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PUBLIC DOCUMENT. No. 9. 



TWENTY-FIFTH ANNUAL BEPORT 



INSURANCE COMMISSIONER 



OF THE 



tHommontoealtl) of illassacf)ii0ett0, 



JANUARY 1, 1880. 



PART II. 
LIFE, CASUALTY, AND ACCIDENT INSURANCE. 



BOSTON: 

Statu, &&erg, & Co., printers ta tije Cflmmonfoeattlj, 

117 Franklin Street. 
1880. 



3 b? r\ft- 

A 



TABLE OF CONTENTS. 



[For Index to Companies, see end of Volume.] 



COMMISSIONER'S REPORT. 

Introductory v 

Companies Authorized and Unauthorized .... vii 

Progress op Life Insurance viii-xi 

Non-Forfeiture Legislation xii-xiv 

Prudential, or Industrial Insurance xiv 

Taxation of Net Values xv-xviii 

Charitable and Beneficiary Associations .... xviii-xx 

Unseemly Strifes xx-xxi 

Unfortunate Companies xxii-xxiii 

Statistical Tabulations, Ratios, etc xxiii-xlix 

Table A— Summary of Income, Expenditures, Assets, Liabili- 
ties, etc xxiii, xxviii 

Table B— Ratio of Net Assets to Computed Premium Reserve, xxiv, xxxi 
Table C — Ratio of Real Estate and other Investments to Gross 

Assets xxiv, xxxiv 

Table D — Policies Issued, Terminated, and Gained in 1879 . xxiv, xxxvi 

Table E — Classification of Policies and Insurance in Force . xxv, xxxix 

Table F — Claims by Death in 1879, with Ratios, etc. . . . xxv, xlii 

Table G — Ratio of Expenses to Mean Amount Insured . . xxv, xlv 

Table H — Massachusetts Business, 1879 xxvi, xlviii 

DETAILED STATEMENTS. 

Massachusetts Life Insurance Companies 1-25 

Life Insurance Companies of Other States .... 27-122 

Accident and Casualty Insurance Companies .... 123-136 
Life and Accident Companies of Other States, with Amount 

of Business done by Each 137-143 

List of Agents and Sub- Agents authorized to act for Life and 

Accident Companies 145-151 



(fommontocalth of itlaasactyueetts. 



Insurance Department, 

Boston, Jan. 1, 1880. 

To the Honorable the Senate and House of Representatives. 

Part II. of the Twenty-Fifth Annual Report of this De- 
partment, herewith submitted, contains the annual state- 
ments of all Companies authorized to transact the business 
of life, casualty, and accident insurance in Massachusetts at 
the close of the year 1879. The financial condition of these 
Companies, with data appertaining to their business transac- 
tions, is exhibited in such detail as the statutes require, and 
as may be necessary for the information of those interested 
therein. 

Under the legislation of 1878, the authorized edition of 
this Part of the Insurance Report was reduced to a number 
quite insufficient to meet the legitimate and reasonable 
requirements of the service ; but an extra edition was printed 
on private account in 1879, from which the further needs of 
the Department were generously and gratuitously supplied. 
In order to relieve the embarrassment, the Legislature of the 
present year has very justly increased the edition ; but, 
through some oversight, the increase does not apply to the 
present Report, and will not take effect till the issue of the 
next. This is a matter of serious regret, though the 'disap- 
pointment will be partially compensated by the State Print- 
ers, who propose to publish a limited edition on their own 
account. 

JULIUS L. CLARKE, . 

Insurance Commissioner. 



TWENTY-FIFTH ANNUAL KEPOBT 



OF THE 



INSURANCE COMMISSIONER. 



PART II. 
LIFE, CASUALTY, AND ACCIDENT INSURANCE. 



Companies Authorized and Unauthorized. 

Thirty-six Life, Casualty, and Accident Insurance Com- 
panies were authorized in Massachusetts at the close of 1879 : 
viz., Home Companies, seven ; New York, thirteen ; Con- 
necticut, seven ; Pennsylvania, three ; Vermont, two ; District 
of Columbia, Maine, New Jersey, and Wisconsin, one each. 
Of these, thirty write life, and six casualty and accident in- 
surance, counting the Travelers' of Hartford in bofch classes, 
and excluding the Massachusetts Hospital Life, which long 
since ceased the issue of new policies. No Companies were 
admitted during the last year in either of these departments 
of business. 

One Company, the Continental Life, of Hartford, Conn., 
was placed on the retired list, its authority to transact new 
business in Massachusetts having been revoked because of 
incorrect statements of its assets and liabilities, — the former 
having been largety overstated, and the latter considerably 
understated; its actual condition showing such impairment 
as to compel the action reluctantly taken by this Depart- 
ment. 

The Hartford Life and Annuity, which has introduced 
into its programme a co-operative plan of insurance, has 
been restricted to the transaction of a regular life insurance 
business within this State, for which only the Company was 
admitted thereto, and for which only its Massachusetts 



viii REPORT OF THE 

agents are authorized. It is well understood that no organi- 
zation or its agents can transact any other in Massachusetts 
except in violation of the provisions of section 7 of chapter 
325 of the Acts of 1872, unless exempted from restrictions 
and penalties by incorporation under chapter 375 of the Acts 
of 1874. Those not so incorporated are liable to injunction, 
and their agents to severe penalties, upon the complaint of 
anjr person who may interpose. 

Progress of Life Insurance. 

In Part I. of the present Report, much time and labor 
were devoted to an exhibit of the actual experience of fire 
and marine underwriting by Companies doing that business 
in Massachusetts for a century, from 1780 to 1880. In the 
same connection were aggregated two or three of the more 
important results showing the marvellous growth of life 
insurance within the last quarter of a century, completing 
the twenty-fifth anniversary of the Massachusetts Insurance 
Department, which commenced with the requirement of 
official data from all Companies insuring lives within the 
State. Reviewing the latter field, we present herewith a 
more elaborate comparison of its almost fabulous develop- 
ment. 

The first statute of this Commonwealth requiring annual 
statements from Life Companies for official publication was 
enacted in 1852; but only those chartered elsewhere were in- 
cluded. Under the revised legislation of 1855, the require- 
ment, was extended to Home Companies. The first returns 
from Life Companies of other States covered the year ending 
Sept. 30, 1853; and, of the twelve Companies of this class then 
reporting, five were from Connecticut, three from New York, 
and the other four from as many different States. Of these 
twelve Companies, seven still remain in the State; viz., the 
Mutual Life, Manhattan, and United States of New York, 
the Connecticut Mutual, the Mutual Benefit of New Jersey, 
the National of Vermont, and the Union Mutual of Maine. 
A very interesting illustration of the growth of life insurance 
in America, especially appropriate in this connection, appears 
in the progress of these seven companies since the publication 
of their first annual statements as rendered in 1853. Here 
are some of the figures : — 



INSURANCE COMMISSIONER. 



IX 





1853. 


1880. 


COMPANIES. 


Amount 
Insured. 


Gross Assets. 


Amount 
Insured. 


Gross Assets. 


Mutual Life, N.Y. . 
Manhattan, N.Y. 
United States, N.Y. 
Connecticut Mutual 
Mutual Benefit, N.J. 
Union Mutual, Me. . 
National, Vt. . 


$17,560,633 

3,423,695 

2,810,448 

20,847,339 

15,188,507 

5,369,169 

784,280 


$2,060,649 
200,032 
745,996 
1,701,673 
1,559,092 
440,134 
114,366 


$298,760,867 

33,332,618 

16,990,187 

104,585,123 

117,720,246 

26,697,370 

8,306,052 


$88,212,701 

10,049,157 

4,953,339 

47,146,918 

35,239,570 

6,872,308 

2,250,585 



Between 1870 and 1875, when life insurance attained its 
largest volume, all these Companies were carrying much 
greater amounts than at the commencement of the present 
year. Under the reaction, already manifest, these and others 
may ere long exceed all previous measure of success. 

In addition to the returns first made by Companies from 
other States in 1853, we have also obtained sufficiently com- 
plete statistics of business transacted by Home Companies 
then in the field (two having only just commenced), and are 
thus enabled to present, for the first time, a perfect exhibit 
of the more important data for that year, when life insurance 
in this country was still almost in its early infancy. With 
these results, taken at the beginning of each year after 1853, 
the following comparison becomes especially valuable and 
suggestive : — 

Growth of Business. 



YEAR. 


Number of 
Companies. 


Policies 
out- 
standing. 


Amount 
Insured. 


Cross Assets. 


dross 
Liabilities. 


Premium 
Reserve. 


1853. 


16 


- 


$86,710,805 


$9,058,913 


$8,420,406 


$5,429,777 


1855 . 


16 


- 


97,178,520 


11,045,679 


9,566,368 


7,403,562 


1860 . 


16 


$48,607 


132,740,828 


18,556,857 


13,782,858 


12,037,853 


1865 . 


27 


146,562 


382,569,890 


45,460,595 


34,207,059 


30,870,534 


1870 . 


64 


649,207 


1,826,171,426 


222,077,394 


190,811,883 


182,167,426 


1875 . 


39 


744,305 


1,897,184,226 


.373,541,058 


340,804,364 


332,585,085 


1880 . 


:;o 


588,757 


1,427,178,306 


401,172,216 


358,053,065 


349,488,935 



x REPORT OF THE 

The foregoing tabulation records experiences unprece- 
dented in the history of monetary enterprises. The com- 
paratively small volume of business accrued at the close of 
1853, constantly accelerating in growth, as indicated by these 
quinquennial aggregations, shows an increase in outstanding 
insurance of more than sixteen, in gross assets more than 
forty-four, and in computed premium reserve more than 
sixty-four fold. Other statistics would show equally won- 
derful results ; among them, the present surplus, as regards 
policy-holders, aggregating upwards of sixty-seven-fold in- 
crease. 

It should be stated, however, that the Companies repre- 
sented in Massachusetts were carrying a much larger volume 
of business at the close of 1870 and 1875 than that named 
in either of the aggregates cited, both of those years imme- 
diately preceding marked periods of depression. With sixty- 
three Companies in 1870 and forty-one in 1875, the following 
figures appear at the close of those years respectively : insur- 
ance in force, $1,981,915,920, decreased to $1,906,088,301, the 
latter an increase over the previous year (1874) ; gross 
assets increased from $262,808,317 in 1870 to $405,288,388 in 
1875; premium reserve, from $220,760,335 to $359,502,966; 
and the surplus in favor of policy-holders, from $29,781,566 
to $37,581,345, the latter now (1880) reaching $43,119,151. 
It will be seen that in 1875 the insurance in force exhibited 
an increase of nearly twenty-two, and the assets nearly forty- 
five fold over 1853 ; the premium reserve and surplus in favor 
of policy-holders differing comparatively little from the pres- 
ent ratio of increase. 

Another illustration, pertinent to the subject under review, 
is found in the experience of the thirty Life Companies, from 
the list of 1875, still doing business in the State. Annexed 
will be found an aggregated tabulation of some of the more 
important items for each of the five } T ears ending with 
1879: — 



INSURANCE COMMISSIONER. 



XI 







Amount 


Insured, 


Assets, Etc. 








No. of 
Policies. 


Amount In- 
sured. 


Gain 


or Loss. 


Assets. 




YEAR. 


Policies. 


Amount. 


Grain. 


1875 . 


625,814 


$1,607,885,832 


+6,539 


—$6,808,442 


$353,197,061 


$26,390,413 


1876 . 


625,668 


1,577,355,681 


—146 


—30,530,151 


372,402,666 


19,205,605 


1877 . 


605,890 


1,501,112,001 


—19,778 


—76,243,680 


383,713,540 


11,310,874 


1878 . 


588,491 


1,435,054,838 


—17,399 


—66,057,163 


392,458,933 


8,745,393 


1879 . 


588,757 


1,427,178,306 


+266 


—7,876,532 


400,112,193 


7,653,260 


Total net . 


- 


- 


—30,518 


— $187,515,96i 


- 


$73,305,545 



Liabilities, Reserve, Surplus, Etc. 



YEAR. 


Liabilities. 


Increase. 


Reserve. 


Gain. 


Surplus. 


Gain. 


1875 


$319,645,395 


$22,600,020 


$312,470,723 


$22,320,546 


$33,551,666 


$3,790,393 


1876 . 


336,393,864 


16,748,469 


328,543,201 


16,072,478 


36,008,802 


2,457,136 


1877 ; . 


345,783,025 


9,389,161 


337,700,25S 


9,157,057 


37,930,515 


1,921,713 


1878 


351,789,396 


6,006,371 


342,241,681 


4,541,423 


40,669,537 


2,739,022 


1879 


357,783,835 


5,994,439 


349,488,935 


7,247,254 


42,328,358 


1,658,821 


Totals 


- 


$60,733,460 


- 


$59,338,758 


- 


$12,567,085 



These results show, that, while the liabilities — including, 
of course, the premium reserve — of the thirty Companies 
represented have increased nearly sixty, and three-quarter 
millions during the five years, they have gained upwards of 
seventy-three and a quarter millions in admitted assets, and 
more than twelve and a half millions in surplus as regards 
policy-holders. The loss in the amount insured has been 
large, while the average difference in the size of policies 
has not been essentially changed ; the average in 1875 being 
12,607, and in 1879, $2,424. 

From the statistics presented in this brief review, no one 
will fail to observe that the amount of outstanding insur- 
ance lost between 1870 and 1874 was very largely recovered 
in 1875. From that time to the present, the falling off 
has been continuous, — in some years enormous. But it is 
believed the limit of depression is now reached, and that 
the returns for the current year will show a material and 
healthy advance. With their combined accumulation of 
assets, now reaching the magnificent sum of more than four 



xii KEPORT OF THE 

hundred millions of dollars, with their annual income from 
premiums and investments of over seventy-five millions, and 
with all the great responsibilities and the far-reaching inter- 
ests and sacred trusts involved in the business thus exhibited, 
these thirty Life Insurance Companies, and all others in such 
classification, owe it to themselves, to their confiding and 
dependent patrons, and to the country, to see that no viola- 
tion of confidence or breach of good faith shall mar the honor 
and integrity of their administration. 

Non-Forfeiture Legislation. 

With all its struggles against foes within and foes without, 
life insurance has been for many years the victim of persist- 
ent assault, largely prompted by the chronic and communis- 
tic aspirations and revenges of discarded agents and others 
hostile to its best interests. Year after year, legislative com- 
mittees have been importuned and bored into the unwilling 
consideration of fanciful and baseless theories, invented and 
urged as the great panacea for broken contracts and forfeited 
equities. In their insane theories and inconsistencies, mathe- 
matical imagination and canting absurdity have run rampant 
over an anticipated millennium of confiscation, or of whole- 
sale cash surrender values payable on demand, — more appro- 
priately insurance abnormities. But this species of commu- 
nism has signally failed in Massachusetts. 

For its own relief from these annual inflictions, the Legis- 
lature of 1879 referred the whole subject of non-forfeiture 
legislation to the Insurance Commissioner, to be presented 
for the consideration of Commissioners and Superintendents 
of other States, and to report at the session of 1880 ; such 
reference contemplating, if possible, some uniformity of action. 
The proposition was considered at the Insurance Convention 
in St. Louis in September, 1879 ; but, in view of the inherent 
difficulties involved, the matter was referred to a special 
committee, with instructions to report at the next annual 
meeting. 

In the mean time, and in obedience to his instructions, the 
Massachusetts Commissioner rendered his report (Senate 
Document 59) to the present Legislature, merely suggesting 
therein a simple form of enactment protecting fairly and 
equitably the mutual interests of both Companies and policy- 



INSURANCE COMMISSIONER. xiii 

holders, purposely leaving for subsequent consideration all 
other matters, which, in any event, and as the result has 
proved, could possess only contingent or secondary impor- 
tance. 

This bill — providing absolutely for paid-up insurance on 
default in premium payment, instead of extended insurance 
for a temporary period, as under the non-forfeiture law of 1861 
— was in perfect harmony with the whole theory and purpose 
of life insurance. That it should have been so recognized 
and indorsed in the final action of the Legislature, is a com- 
plete concession of its intrinsic importance and justice. Its 
basis of surrender charge was a matter of no particular in- 
terest, provided its positive guaranty of paid-up insurance 
was secured under proper conditions; and this has been suc- 
cessfully accomplished. 

Pending this result, the defeat of various substitutes — all 
more or less faulty, inequitable, and too loose for the scrutiny 
of judicial analysis — was only a foregone conclusion. These 
disposed of, the bill here referred to — wisely retained upon the 
table — was taken up, and such other provisions added as, in 
the judgment of the Committee and of the Insurance Com- 
missioner, were desirable for^ny possible emergency, includ- 
ing a cash surrender value, to which, as now restricted and 
guarded, there was no objection./ 

As was sought and desired from the beginning, the para- 
mount and really important feature of the new law is that 
which secures paid-up insurance to the policy-holder upon 
failure to pay a third or subsequent premium, the same to be 
determined in equity in accordance with the terms of the 
original policy, the number of premiums paid, and the age of 
the insured at date of default. This provision gives the in- 
sured or the beneficiary a positive and equitable return for 
premiums paid, and, except in rare cases, will be of far 
greater value than any little return in cash. 

In granting paid-up insurance, comparatively little uni- 
formity has been observed, Companies from different States 
and from the same States having exercised their own option 
in the enforcement of various conditions, some of which have 
been wise and equitable, others unnecessary and unjust. 
For instance, there is no reason why a Company should re- 
quire as a condition thereto that the policy be surrendered 



xiv REPORT OF THE 

and a paid-up applied for within any limit of time under 
penalty for neglect. The inconsistency of the requirement 
is palpably manifest in the very offer of paid-up insurance 
under any circumstances, since thereby the Company posi- 
tively recognizes an accrued equity belonging to the insured, 
which should at once be passed to his credit, whether applied 
for or not. That this equity should be absolutely secured to 
the beneficiary without the machinery of unnecessary condi- 
tions, as provided for by the statute under consideration, is 
only a concession of simple justice, which, we presume, no 
Company affected by its requirement will for a moment ques- 
tion. 

The only other provision of any special interest is that 
which gives, under the same rules in equity, a surrender 
value in cash, when no possible heirs or claimants exist other 
than the insured. This, however, is comparatively unimpor- 
tant, inasmuch as the amount likely to be involved will be of 
small consequence, and will not materially modify the present 
usage of Massachusetts Companies, whose just and generous 
administration has so generally commanded commendation 
and confidence. 

Prudential or Industrial Insurance. 

It is very well known that this branch of insurance, which 
has gained great popularity and volume in England, is being 
successfully introduced by several Companies authorized in 
Massachusetts. Though somewhat experimental in its pres- 
ent stage of development in this country, its success has thus 
far exceeded all expectation. Being especially adapted to 
the poor and laboring classes, its material and timely relief, 
so promptly furnished in seasons of pressing need, is proving 
itself a welcome boon to multitudes of grateful beneficiaries. 

The present laws of the State fail to provide a proper 
standard of reserve for this plan of insurance, a very large 
portion of its policies not coming within the rules of valua- 
tion applicable to other insurance. It was to remedy this 
defect and provide for the charge of an adequate reserve, 
that the John Hancock Mutual Life, through its President, 
Hon. Stephen H. Rhodes, desired the enactment of some 
legislation the present year. The bill introduced at the re- 
cent session of the Legislature provided for this necessity ; 



INSURANCE COMMISSIONER. xv 

and, had it become a law, the John Hancock, and every other 
Company writing Prudential Insurance in Massachusetts, 
would have been compelled to hold full reserves under such 
policies. It is therefore unfortunate that misrepresentation, 
either through ignorance or malice, or both, should have 
sought the defeat of such legislation, since, as the matter now 
stands, very important interests escape legal recognition. 

That the John Hancock and its President desired in good 
faith to secure fair dealing with the State and with the 
insured, is evidenced by the amendatory clause to the non- 
forfeiture Act, proposed as a last resort by Mr. Rhodes him- 
self, compelling in all cases the payment of a cash surrender 
value upon a large majority of these policies. The equity of 
this provision, which the Company would have adopted even 
without statute requirement, will be favorably appreciated. 
Perhaps a year's experience in this new field may render still 
more apparent the necessity for some complete legislation on 
this subject. 

Taxation of Net Values. 

With all deference to the law-making power, it is never- 
theless a matter of profound regret that there should have 
seemed any necessity or justification for the tax imposed by 
chapter 227 of the Acts of the present year. It is the first 
time, we believe, in the history of life insurance, that any 
State or government has levied a tax based on the net values 
of life policies. These values, or reserves, as all know, are 
required by law to be maintained absolutely intact for the 
fulfilment of sacred contracts, the maturity of which has 
been closely and accurately determined by generations of 
mortuary experience. It therefore follows that their diver- 
sion for any other purpose, even for payment of a tax, in- 
volving consequent impairment, is not only in violation of the 
statutes fixing their status and amount, but a breach of vital 
conditions underlying the whole system of life insurance ; 
and that any statute in conflict with these must almost inev- 
itably introduce an element of serious peril. 

It can hardly be claimed that the tax created by this law 
is in any practical sense what it purports to be, — a tax upon 
Life Insurance Companies, — since, under the usage most 
likely to be adopted, it will have the effect of a tax circui- 



XVI 



REPORT OF THE 



tously assessed upon the policy-holders to whom the reserves 
belong, and upon whom the burden must fall. As a Com- 
pany cannot impair these reserves and continue in business, 
the tax must be paid from its surplus, thereby reducing by so 
much the dividends accruing to its policy-holders, and very 
generally used by them in payment of premiums. Such 
reduction of dividends will practically increase in equal pro- 
portion the cash premium payment of every policy-holder. 
Hence, with thousands who are struggling to keep their 
insurance in force as their only hope of relief from future 
want, the loss of even a few dollars in dividends applicable 
to the reduction of premium payments will be a hardship, 
and may result in the lapse of policies to an extent which 
few can appreciate who are not familiar with the daily expe- 
riences of an Insurance Department or of a Life Insurance 
Company. 

But infinitely more burdensome will be the result if such 
tax is, as it may be, apportioned for payment from that part 
of a Company's dividends to Massachusetts policy-holders, 
instead of payment from its general surplus. A Company 
may make payment from either source, or from any funds 
not subject to policy dividends, if such exist, though the 
latter is not very likely to be adopted. 

A few examples representing the predominant classes of 
life insurance may possess interest, as illustrating still further 
the financial application of the law. If six policies for five 
thousand dollars each, issued at age forty, had completed 
their fifth year Dec. 31, 1879, we should find their net values, 
with the taxes thereon, to be as follows : — 



KIND OF POLICY. 



Age at 
Issue. 



Amount 
Insured. 



Net Value, 

End of Fifth 

Year. 



Tax, Half 

of One 
Per Cent. 



Ordinary Life .... 
Ten-Premium Life . 
Paid-up Life .... 
Ordinary Endowment, D. or GO 
Ten-Premium Endowment . 
Paid-up Ten- Year Endowment 



40 
40 
40 
40 
40 
40 



$5,000 00 
5,000 00 
5,000 00 
5,000 00 
5,000 00 
5,000 00 



$383 95 
1,073 80 
2,142 85 
866 15 
2,194 30 
4,131 35 



$1 92 
5 37 

10 71 
4 33 

10 97 

20 66 



INSURANCE COMMISSIONER. 



xvn 



Had the same policies attained the close of their tenth 
year at that date, their net values and the taxes thereon 
would have reached the amounts given in the annexed ex- 
hibit : — 



KIND OF POLICY. 



Age at 
Issue. 



Amount 
Insured. 



Ket Value, 

End of Tenth 

Year. 



Tax, Half 

of One 
Ter Cent. 



Ordinary Life .... 
Ten-Premium Life . 
Paid-up Life .... 
Ordinary Endowment, D. or GO 
Ten-Premium Endowment . 
Paid-up Ten-Year Endowment 



40 
40 
40 
40 
40 
40 



i>5,000 00 
5,000 00 
5,000 00 
5,000 00 
5,000 00 
5,000 00 



3814 85 
2,409 55 
2,409 55 
1,929 55 
5,000 00 
5,000 00 



$4 07 
12 05 
12 05 
9 65 
25 00 
25 00 



It will be understood, of course, that policies issued at 
different ages and for different amounts will bear proportion- 
ate values and taxes ; but these examples will sufficiently 
elucidate the operation of the excise tax. If, in the exercise 
of their option, the Companies should deduct the aggregate 
tax on Massachusetts risks from the dividends declared to 
their credit, the Massachusetts policy-holders alone would 
practically pay more than a hundred thousand dollars (the 
estimated income therefrom), or more than one-fifteenth of 
the State tax for 1880. 

But a more unfortunate aspect of the case is that which, 
under the reciprocal or retaliatory legislation in force in most 
or all of the States, involves the exaction of a similar tax in 
every State in which a Massachusetts Company transacts 
business. Under this rule, of the proposed enforcement of 
which this Department is already receiving notices involving 
the duplication of reciprocal taxes, possibly in some instances 
five to fifteen times, the aggregate assessment is likely to 
become more onerous than at first appears, especially with 
its cumulative and constantly increasing volume as policies 
become older and their net values enhanced. Moreover, 
with this condition applied, as it is certain to be, a Massachu- 
setts policy-holder must practically pay not only the tax on 
his own policy reserve, but also his proportion of the recipro- 



xviii REPORT OF THE 

tal taxes on the reserves or net values of policies held by 
citizens of other States. 

Other results might be cited with equal relevancy ; among 
them, that of double taxation, notably in many instances in 
which a Company's policy reserves, and even large portions 
of its surplus, are invested in property already subject to 
local taxation at the Company's expense. 

Of the effect of such accumulation of taxes, reciprocal and 
otherwise, upon Companies having only a small surplus, it is 
needless to speak : suffice that in seasons of exceptional mor- 
tality, or even without, there may be cases in which their 
entire surplus would be wiped out, and their doors closed 
under inevitable impairment. 

Charitable and Beneficiary Associations. 

By its Act, chapter 204 of 1877, the Legislature granted 
special rights and privileges to certain corporations organ- 
ized under chapter 375 of the Acts of 1874 " for religious, 
charitable, educational, and other purposes," the latter in- 
cluding assistance to " the widows, orphans, or other depend- 
ents of deceased members." Such corporations were also 
granted exemption from the general laws relating to Life 
Insurance Companies. 

Under the provisions of chapter 196 of the Acts of the 
present year, all such organizations within this Common- 
wealth are required to make " to the Insurance Commissioner, 
annually or oftener, such statements of their membership and 
financial transactions, with such other information relating 
thereto, as he may deem necessary to a proper exhibit of their 
business and standing." The same Act also provides that 
they may hold at any one time a " death fund " of $10,000 or 
more for "the beneficiaries of anticipated deceased mem- 
bers," the same to be at all times safely invested or deposited, 
subject to immediate distribution whenever required. 

In whatever public or private estimate the various schemes 
of insurance or beneficiary provision offered by these associa- 
tions are held, it must be admitted that the Legislature and 
the people of the Commonwealth have full right to know 
whether the special privileges and exemptions granted to 
them are lawfully and properly used. Their rapid increase 
under all sorts of conditions, and with all sorts of administra- 



INSURANCE COMMISSIONER. xix 

tion, — some legitimate and honest, some ]oose and reckless, 
and not a few mere wandering adventurers and frauds, — 
was a sufficient reason for legislation looking to the exposure 
of the latter and the protection of the former, through some 
official cognizance in the interest of authorized organizations 
and of the people whose patronage they seek. 

The necessity for such legislation is forcibly apparent in 
the constant inroad from other States of unknown and irre- 
sponsible associations, the agents or pretended representatives 
of which collect and carry away large sums of money, paid 
by the credulous and unsuspecting with no reliable assurance 
of ever receiving a single farthing of the promised benefits. 
An illustration appears in the case of an unauthorized asso- 
ciation coming with pretentious recommendations from a 
neighboring State, and tempting its agents to violate laws 
and risk heavy penalties under a promised reward of almost 
the entire amount of the entrance fees. 

It is not intended to discuss in this connection the subject 
of co-operative insurance. Very much has already been said 
and written by State officials, insurance men, journalists, and 
others, in regard to its character and claims. Its plans have 
been denounced in unstinted terms and measure on the one 
hand, and on the other they have been extolled as embody- 
ing the true and rational theories of life insurance. But, 
from all this discussion, nothing definite or tangible has 
resulted. The fact stands boldly forth, that co-operative 
insurance is still in vogue, and its practice extending. 

Associations representing its plans have risen, flourished, 
and disappeared by scores ; so also have those transacting a 
regular life insurance business. There is, however, a marked 
difference in the lessons they have taught. The latter have 
been annually required to place on public record the details 
of their business transactions, and from these it is easy to 
trace with certainty any errors or crimes in management, as 
well as causes of disaster. Their fate presents a gloomy and 
conspicuous beacon, which the survivors do well to heed. In 
the experience of the former (the co-operative), as generally 
existing throughout the country, there has ever been an 
entire absence of compulsory publicity; and hence the his- 
tory of their transactions, and the instruction which might 
have been derived therefrom, are wholly lost, while the fatal 



xx REPORT OF THE 

errors of those which have fallen are constantly repeated by 
their successors. 

There is no business scheme known among men in which 
exist so many pitfalls for honest ignorance, or lurking-places 
for designing fraud, as in that of life insurance. Consequent- 
ly legislation has sought to enlighten the people and remove 
causes of disaster by compelling its corporations to make fre- 
quent and detailed reports of their condition and business, so 
that comparison and public opinion should effectually aid in 
the exposure and correction of errors. Among the results 
are noted a very considerable purification in management, 
and a more efficient protection of the rights and interests of 
the insured ; and, though all may not have been accomplished 
that was intended or desired, there has been progress in the 
right direction. The extension of a similar system of ac- 
countability in co-operative insurance will also prove to be a 
measure of public utility and safety. 

With every well-managed association, as well as with every 
person contemplating membership, the results sought for 
under the legislation referred to can scarcely fail to possess 
importance and value, especially in confirmation, it may be, 
of the necessity of greater vigilance and better methods, as 
shown by the long experience of similar organizations in 
Europe, over which government supervision is maintained. 
The transaction of business in conformity with the laws of 
the Commonwealth, with official evidence of economy and 
integrity of administration, will remove suspicion and com- 
mand approval. Such associations will find their interest 
directly promoted by co-operation in the enforcement of law, 
thereby escaping undesirable companionship or classification. 
With such reasonable concession, no embarrassment need be 
apprehended. 

Unseemly Strifes. 

Life insurance has been eagerly and justly heralded by its 
advocates and managers as a noble, humane, and beneficent 
institution. Possessing real and intrinsic value, its rapid and 
gigantic development, particularly in the United States, has 
been one of the marvels of the century. Invested at first 
with something of the charm of novelt} T , it quickly com- 
manded popular favor, its volume attaining proportions far 
exceeding its progress within any equal period either in Eng- 



INSURANCE COMMISSIONER. xxi 

land, Germany, or France. But, of all this, history preserves 
the record. 

As might have been anticipated, the almost miraculous 
growth of such an institution could hardly fail to develop 
great results and suggestive lessons. Excessive competition, 
stimulated by large promise of reward; peculiar conditions 
of industry, commerce, and finance; inevitable crises in pri- 
vate and public affairs ; the controlling and generally health- 
ful influences of legislation in shaping and developing the 
business of the country, — these and other equally potent 
agencies have given to life insurance wonderful emolument 
and power, — too often used, we regret to say, for personal 
greed and advancement. But, with all attendant evils and 
misfortunes, almost inevitable in business enterprises, the 
institution still remains as a great public benefactor. 

The lessons of experience, however, should not be for- 
gotten. It would seem that the incompetence and corrup- 
tion, the mismanagement and extravagance, the rascalities 
and robberies, which have marked the history of so many 
defunct companies and their officials, should have long since 
prompted complete reform in every branch of insurance ad- 
ministration. Most certainly these vicissitudes and disasters 
of the past, with the distrust and prejudice which, as their 
legitimate fruit, so largely pervade the public mind, ought to 
suffice for all coming time. As a rule, honest and well-man- 
aged Companies — and there are many such — have been 
quick to profit by this "handwriting on the wall," and have 
won for themselves full merit to public confidence. All honor 
to their wisdom and integrity ! 

It is certainly unfortunate that the strifes of competition 
and the rivalries for prestige should sometimes so far oblit- 
erate the amenities of honorable business relations as to 
permit petty and unworthy controversies, better aped by quar- 
relsome schoolboys than by great and beneficent institutions. 
The interests of insurance in all its branches have been suffi- 
ciently jeopardized without indulgence in such departures 
from its legitimate spheres of administration. The public 
will never appreciate the merits, if there be any, appertain- 
ing to such conflicts, but will be more certain to exaggerate 
their differences in the wrong direction. The injury thus 
inflicted by adverse and hostile criticism, prompted by mere 



xxii REPORT OF THE 

strife for precedence, does not stop with its effects upon the 
contestants immediately concerned, hut of necessity injuri- 
ously affects the whole business and all engaged in its pros- 
ecution. This element of insurance rivalry is, and has been, 
no unrecognized quantity in provoking unfriendly legislation, 
and in bringing disrepute and distrust upon a business which 
should preserve its proper and beneficent scope. 

Unfortunate Companies. 

(. Since the organization of our several State governments, 
/ nearly or quite two hundred Life Insurance Companies have 
\been chartered in this country. ) Some of them (ten in Massa- 
chusetts alone) were never able to organize ; and, of those 
which succeeded in commencing business, less than thirty 
were in existence prior to 1868, but these were re-enforced by 
nearly one hundred more between 1863 and 1870. (Jdi those 
which organized and commenced business, more than one 
hundred and twenty have failed or retired, — all but twenty 
of them since 1862. J Forty-two failed outright, seventy-two 
re-insured their risks, and the remainder closed their doors 
under various mutual arrangements. 

Of the whole number, eighty-four have been from first to 
last authorized to transact business in Massachusetts. Of 
these, four retired from the State prior to 1860, and forty- 
four during the last twelve years, their withdrawal having 
been either voluntary or compulsory. Some of those num- 
bered in this unfortunate category, though honestly adminis- 
tered, were overtaken by adverse circumstances, unforeseen 
and inevitable ; while much the larger number were wrecked 
by their own heedless extravagance and mismanagement, if 
not in some cases through criminal intent. 

Five of the retired Companies are still doing business in 
their own States ; and, of those forced into liquidation, thirty- 
one re-insured their risks. Of the forty-eight authorized at 
various times in this State and since failed or retired, thirty- 
one were chartered in New York, five in Connecticut, three 
in New Jersey, two in Pennsylvania, and one each in Dela- 
ware, District of Columbia, Illinois, Missouri, Ohio, Rhode 
Island, and Tennessee. 

Many of those which became insolvent (no less than thir- 
teen in New York alone) are still in the hands of receivers, 



INSURANCE COMMISSIONER. xxiii 

some of them having lingered in that promising condition for 
several years, affording rare opportunity for the robbery of 
policy-holders by a class of professional shysters who appear 
to fatten upon their traffic in reserves and present values, and 
who seem to possess in some cases remarkable facilities for 
ascertaining the names and residences of their victims, as 
well as other data useful in their little games of sharp practice. 
Against all this, we are only too glad to record our earnest 
protest and warning. 

It is notorious that, in nearly every case, the average ratio 
of declared dividends, so far as ascertained, has been ridicu- 
lously small, that of compensation and expenses enormously 
large ; while in too many instances the former yet remains 
among the uncertainties of the future. A few of these 
receiverships have exhibited such wonderful examples of 
longevity, that the descendants of the policy-holders may 
possibly hope for a small token of recognition in some gener- 
ation yet to come, provided their race and the assets do not 
become extinct. 

Statistical Tabulations, Ratios, Etc. 

In the Statistical Tabulations which follow, summarizing 
in comparative relations the business of 1879, some changes 
will be discovered Although the entire omission of some 
heretofore used, with the modification and addition of others, 
does not render the series in all respects what was intended 
and desired, yet with the returns for 1879 nothing better 
could be done. But, with those required for the present year, 
the necessary data may be had for a more complete presenta- 
tion of the actual conditions and relations appertaining to 
the business of life insurance. 

In a careful and critical analysis of the statistics of busi- 
ness and finance as now presented, there will be found hopeful 
and encouraging indications of coming prosperity and growth-. 
Possibly their teachings may prompt better methods and 
wiser administration. They are commended to a thoughtful 
and candid consideration. 

Table A. — The monetary exhibit presented in this Table 
shows an increase of upwards of five millions during the past 
year in admitted assets, the present amount being $401,172,- 



xxiv REPORT OF THE 

21 (i. Its ratio to gross liabilities, amounting to $358,053,065, 
is now 11±<>4 againsl 111.70 in the previous year. The sur- 
plus as regards policy-holders has increased to $43,119,151, 
the ratio of surplus in Home Companies having risen from 
115.15 to 116.66. 

Table B. — We repeat, as heretofore, that the compari- 
sons in tins Table furnish no test of solvency, and should 
not be cited in that relation. They are merely an exhibit of 
net assets or actual premium reserve and computed premium 
reserve, the former now increased to $391,817,293, and the 
latter to 8349,488,935, — upwards of six millions and four 
and a half millions respectively over 1878. The comparative 
aggregate ratio of the former over the latter for 1879 is 112.11 
against 111.81 for 1878; the Massachusetts Companies show- 
ing the largest relative increase, their aggregate ratio having 
risen from 112.70 to 114.20. 

Table C. — It appears from this tabulation that the value 
of real estate, stocks, and bonds owned by the Companies rep- 
resented, has appreciated nearly sixteen and three-quarter 
millions within the year, reaching at its close $164,769,984, 
and showing a ratio to gross assets of 41.31 against 38.35 
per cent in 1878. In the same connection the loans on mort- 
gages and collaterals have decreased upwards of five and a 
half millions, going down to $185,061,405, with a present 
ratio to gross assets reduced from 48.41 to 46.40 per cent. 
The total investments in real estate, stocks, bonds, mortgages, 
and other standard securities, the best that can be made, 
amounted at the beginning of the present year to nearly 
three hundred and fifty millions, or to nearly seven-eighths of 
the assets held by the Companies, or more than their entire 
policy liability. 

Table D. — An examination of this Table will confirm 
the remark elsewhere made, that tlie probable limit of de- 
pression in the business of , life insurance has been finally 
reached, and that the tide is being reversed under a healthful 
and promising reaction. The enormous falling-off in out- 
standing insurance since 1875, when it reached its largest 
volume ($1,906,088,301) after its reduction from $1,981,915,- 
920 in 1870 to $1,897,184,426 in 1874, will be appreciated 



INSURANCE COMMISSIONER. xxv 

when we state that the returns of Companies represented in 
Massachusetts show losses as follows: in 1876, policies 83,- 
231, insurance $220,293,122; 1877, policies 66,707, insurance 
$173,183,399; 1878, policies 18,195, insurance $68,272,222; 
1879, policies 8,532, insurance $17,161,251, — an aggregate 
loss during the four years in policies of 176,665, and insur- 
ance $478,709,995, leaving in force 588,757 policies and 
$1,427,178,306 insurance. With the reduction in loss of 
outstanding insurance from two hundred and twenty millions 
in 1876 to seventeen millions in 1879, and the manifest im- 
provement in the business of the last year, the anticipation 
of returning prosperity seems reasonable and encouraging. 

Table E. — In this Table will be found a statement of 
the number and amount of policies of different classes now 
carried by the several Companies doing business in Massa- 
chusetts, so far as their returns enable us to perfect the 
classification, to which, also, we have added the computed 
premium reserves. The aggregate amount of life policies in 
force Dec. 31, 1879, was $1,185,338,469, and the reserve 
thereon $256,418,927, endowment $202,704,494, reserve $90,- 
123,671; all other policies $39,135,163, reserve $3,534,006. 
In 1863 nearly nineteen-twentieths of all policies in force 
were ordinary life. In 1870 the proportion had decreased to 
fifteen-twentieths, and is now considerably less than seven- 
teen-twentieths. In 1870 the endowment insurance had 
reached $452,208,898, or nearly five-twentieths of the whole 
amount then in force, and is now nearly three-twentieths. 

Table F. — The mortality experience recorded in this 
Table shows that 7,273 death claims accrued in 1879 to Com- 
panies authorized in the State, one having only a single loss 
of a thousand dollars, and the largest (1,557) aggregating 
upwards of four millions. The claims amounted in all to 
$20,010,078, — a small excess over 1878, with a corresponding 
increase of ratio ; the number of claims to mean number of 
policies showing 1.23 against 1.21, and the amount of loss to 
mean amount insured 1.40 against 1.32 in 1878. This result 
does not materially differ from that of the last five years. 

Table G. — In this Table will be found the ratios of 
expense to mean amount insured in 1879 ; the aggregate of 

d . 



xxvi REPORT OF INSURANCE COMMISSIONER. 

the former being $9,673,565, and of the latter $1,431,116,678, 
with a ratio of .68 against .63 for the previous year. This 
exhibit might have been much less favorable, especially as 
the new business written in 1879, amounting t.o $165,802,173, 
was twenty-one millions in excess of 1878. 

Table H. — Some grains of satisfaction may be gathered 
from the statistics of this tabulation, which show a substan- 
tial increase over 1878 in the Massachusetts business, both 
in the number of policies issued and in the amount of insur- 
ance written. Perhaps the result may be accepted as another 
evidence of returning confidence and success. 



STATISTICAL TABULATIONS, 



XX VI 11 



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XXXV 



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REPORT OF THE 



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CO 


O 


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CM 


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b- 


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1— 1 


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• i— < 


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xlviii 



REPORT OF THE 



Table H. — Massachusetts Business. 



"KT A HiTT]^ i"VC* /~l/"\TI>ff T> A XT"V 


Policies Issued 1879. 


Policies 


Issled 1878. 


NAME Or UOMrAKi. 


Number. 


Amount. 


Number. 


Amount. 


Massachusetts Cos. 










Berkshire 


189 


$293,200 


97 


$151,025 


John Hancock . 


138 


232,885 


125 


254,721 


Massachusetts Mutual 


161 


319,108 


221 


445,910 


New England Mutual 


187 


606,671 


214 


660,619 


State Mutual . 


127 


342,000 


86 


224,800 


Totals 


805 


$1,793,864 


743 


$1,737,075 


COS. OF OTHER STATES. 










JEtnm .... 


159 


$294,509 


ISO 


$297,046 


Connecticut General 


29 


32,080 


63 


93,893 


Connecticut Mutual . 


313 


644,614 


238 


616,237 


Equitable 


229 


738,870 


27S 


1,022,955 


Germania 


22 


41,104 


16 


26,198 


Hartford Life and Ann'ty, 


41 


74,500 


21 


39,483 


Home .... 


18 


26,372 


11 


20. 


Homoeopathic . 


60 


71,178 


61 


112 


Manhattan 


46 


87,110 


13 


04,272 


Metropolitan . 


11 


12,000 


20 




Mutual .... 


726 


2,003,010 




1.- 


Mutual Benefit 


229 


632,127 


108 


278 


National, Vermont . 


118 


302,700 


00 


302,100 


Nat'l of the United States, 


37 


66, li>l 




037 


New York 


332 


1,817,625 


178 


1,720 


Northwestern Mutual 


139 


433,218 


66 


168,400 


Penn Mutual . 


68 


248,000 


31 


62,1 



INSURANCE COMMISSIONER. 



xlix 



Table H. — Massachusetts Business — Concluded. 





Policies Issued 1879. 


Policies Issued 1878. 


NAME OF COMPANY. 












Number. 


Amount. 


Number. 


Amount. 


Phoenix Mutual 


156 


$220,334 


220 


$286,563 


Provident Life and Trust, 


85 , 


276,516 


65 


183,335 


Provident Savings . 


51 


35,000 


49 


126,500 


Travelers' 


89 


119,108 


107 


120,643 


Union Mutual . 


336 


481,104 


605 


837,514 


United States 


71 


90,660 


156 


233,600 


Vermont .... 


24 


41,500 


48 


119,500 


Washington 


137 


406,820 


102 


212,815 


Totals 


3,516 


$8,875,950 


3,376 


$7,168,171 


Grand totals 


4,321 


$10,669,814 


4,119 , 


$8,905,246 



MASSACHUSETTS 

LIFE INSURANCE COMPANIES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1879. 



MASSACHUSETTS LIFE 



[Dec 31, 



I'EIAILET STATEMENT OF ASSETS AND LIABILIllKS. 



BERKSHIRE LIFE INSURANCE MPANT OF PITTSFIELD. 

rporaic'I May. I<51. Commenced busin«~ - - 
Paid-up Capital. -." 
William R. Pluxl -evident Secretary. James W. Hill. 



:E. 

Total premium income ...... 

-i for inter— ads. and 1 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property . 

:al income ....... 

jt ledger assets Dec. 31, 1878 .... 

Total 

D18BURSKMKH 

Cash paid for losses and additions .... 
Premium notes or loans used in paym<~ me 

. paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for .nd endowments 

. paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by laj - 
Cash surrender values, including reconverted additiu;. 
plied in payment of premiums .... 

. dividends paid policy-holders. $13,257 ': applied in 
payment of premiums, $'.'• J . 

Premium notes or loans used in payment of divide 

*Total paid policy-holders ..... 
Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and f ..... 

for rent ....... 



$390,486 41 

177.803 92 

22 90 

280 10 

14.131 43 

$588,524 76 

-.366 76 

,826,801 5*2 



8104.564 37 
2.5: 
55,501 12 
1.474 38 

$164,137 21 

35,402 10 

.504 73 

34,340 29 

77,084 95 
27 64 



$382 
1,78 

m 

18,882 13 

15,752 14 
1,047 02 

4.013 11 



1879.] 



INSURANCE COMPANIES. 



Cash paid for advertising ...... 

for incidentals ...... 

for depreciation ...... 

Total disbursements ...... 

Balance ........ 

Invested in the following : — 

Assets as per Ledger Accounts 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office 
Cash deposited in bank 
Bills receivable . 
Agents' ledger balances 
Office furniture . 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



$3,904 64 
10,520 13 
32,150 47 



$457,639 54 



$,369,251 98 



$434,179 24 

1,714,836 82 

115,110 00 

192,603 86 

831,372 25 

1,621 50 

49,203 97 

2,579 05 

24,745 29 

3,000 00 



$3,369,251 98 
17,860 16 

$3,351,391 82 



Other Assets 
Interest due and accrued . 
Rents due and accrued 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total ...... 

Deduct loading (10 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$18,477 38 
28,221 25 

$46,698 63 
4,669 86 



54,754 39 

805 58 

10,070 00 



42,028 77 



. $3,459,050 56 



Items not Admitted. 



Office furniture, etc. . 
Agents' balances 
Bills receivable . 
Total . 

Total admitted assets 



$3,000 00 

24,745 29 

2,579 05 



30,324 34 



. $3,428,726 22 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $3,057,429 00 
Deduct net value of re-insured risks . . . . . . 12,063 00 

Net re- insurance reserve * ». •. .$3,045,366 00 



MASSACHUSETTS LIFE 



[Dec. 31. 



Death c losses and matured endowment* in 
process of adjustment .... 
Claims resisted by the company 

Total policy claims .... 
Unpaid dividends of surplus due policy-holder! 
Premiums paid in advance 
Ledger accounts ..... 



$22,850 00 
.000 00 



Liabilities as to policy-hol 

Surplus as regards policy-hold- 

Gross liabilities . 



♦42,550 00 

6,823 0b 

7 94 
50' 

18,114,018 G7 
814,009 



"J6 22 



ii cm \<»i i Account. 



Premium notes on hand 1» 81, 1878 
Premium notes receiyed during 187 

Total 

Used in payment oi md clail 

Used in payment of Burrendi 

and voided by ly) 
Used in payment of dividend 
holders ...... 

Redeemed by maker in . 

Total ...... 






1 78 

I 






Balanoe note m 

i iiiiu i oi Poi icn 

P >/. 1878. 



88,853 
1198,008 * 



Whole-life policies 
Bndo^i in. -lit policie 
All other j »«*! i<-iea 

• 



Numl*r 

2,088 
1.718 



/' 1879. 



Whole-life policies 
ImhIow menl polioii 



488 



< fit during the ) 



Whole-life polieiea 
BndoM tnent polioi< 
All other policii 



11 
14 
38 



I 
Polioiei extended undei \ i ui 

Additions bj dii idendi 



(6,619 00 
>0 00 
58,65(3 



1 ou 



39,500 00 



686,800 00 



rota] aumbei by amount 



12 $13,602,806 



1879.] 



INSURANCE COMPANIES. 



Policies ceased to be in Force during the Year. 







Number. 


Amount. 


Terminated by death .... 




53 


$112,453 00 


by maturity .... 




46 


56,956 00 


by expiry .... 




371 


806,500 00 


by surrender .... 




104 


294,052 00 


by lapse ..... 




334 


685,900 00 


Not taken 




131 
. 1,039 \ 


248,500 00 


Total terminated .... 


52,204,361 00 


Policies in Force Dec. 


su 


1879. 




Whole-life policies ..... 




. 2,724 - c 


$6,148,940 00 


Endowment policies . . . 




. 1,765 


3,464,277 00 


All other policies ..... 




884 


1,786,600 00 


Reversionary additions . . . , . 




. 5,373 $ 


58,816 00 


Totals 


11,458,633 00 


Schedule A. 






Securities held as Collateral. 








Market value. 


Amount loaned. 


8 shares Bay State National Bank 


\ 






6 " Boston and Albany Railroad 


\ 


$1,500 00 


$1,200 00 


United States bonds .... 




4,920 00 


4,000 00 


10 shares Pittsfield National Bank . 




1,400 00 


1,300 00 


100 " Pittsfield Gas Company . 




14,000 00 


12,000 00 


64. " Pittsfield Gas Company . 




8,960 00 


7,000 00 


50 " Boston and Albany Railroad 




7,000 00 


5,000 00 


150 " Adams National Bank 




18,750 00 


j- 23,610 00 


235 " American Express Company 




13,395 00. 


7 " Agricultural National Bank 




1,470 00 


1,000 00 


United States bonds .... 




61,950 00 


60,000 00 



-1133,345 00 $115,110 00 



Schedule B 
Stocks and Bonds owned by 

United States bonds .... 
300 shares Agricultural National Bank 
250 u Adams National Bank 
'458 " Pittsfield National Bank 
North Adams water bonds 
Berkshire county bonds 
Berkshire county bonds 
Cheshire town bonds . 



the Company. 

Cost value. 

$574,188 75 
60,000 00 
31,250 00 
61,830 00 
43,000 00 
20,000 00 
37,103 50 
4,000 00 



Market value. 

$562,292 50 

63,000 00 

31,250 00 

64,120 00 

47,300 00 

20,400 00 

36,750 So 

4,080 00 



$831,372 25 $829,192 50 



6 



MASSACHUSETTS LIFE 



[Dec. 31, 



JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY OF 

BOSTON. 

| tncorporated April 21, 1862. Commenced business Dec. 27, 1862.] 

Stephen II. Rhodes, President. Secretary, George B. Woodward. 

Principal Office, Sears Building. 



Income. 

Total premium income . . . . . 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance . 
for rents of company's property . 

Total income . . . . . 
Net or ledger assets Dec. 31, 1878 .... 

Total ......... 

Disbursements. 
Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Cash paid to annuitants 

Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ...... 

Cash surrender values, including reconverted additions ap 

plied in payment of premiums .... 
Cash dividends paid policy-holders, $6,820.92; applied in 

payment of premiums, $37,042.95 .... 
Premium notes or loans used in payment of dividends 

Total paid policy-holders . ■ . 

Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for furniture and office fixtures . 

for advertising ...... 

for incidentals ...... 

for depreciation ...... 

Total disbursements ...... 

Balance ........ 



$294,043 20 

134,894 27 

7,530 48 

3,694 75 

13,838 21 

$454,000 91 

2,638,430 06 

$3,092,430 97 



$156,354 85 

5,786 28 

115,805 72 

15,988 01 

$293,934 86 

1,260 63 

12,764 46 

17,795 99 

33,040 23 

43,863 87 
16,169 98 

$418,830 02 

22,863 93 

28,580 75 

7,786 36 

22,651 86 

7,096 33 

7,371 51. 

1,736 37 

1,544 68 

2,616 82 

19,981 43 

0.924 80 

$547,984 86 

$2,544,446 11 



1879.] 



INSURANCE COMPANIES. 



Invested in the following: — 

Assets as per Ledger Accounts. 



Cost value of real estate .... 


. 






1249,169 26 


Loans on mortgage of real estate (first liens) 








1,305,927 67 


on collateral security (schedule A) . 


. 






36,050 00 


on company's policies assigned as collateral 






7,660 00 


Premium notes or loans on policies in force 


. 






222,250 30 


Par value of stocks and bonds owned (schedule 


,B) . 






689,700 00 


Cash in company's office .... 


. 






528 80 


Cash deposited in bank . 


. 






22,496 40 


Bills receivable ...... 


. 






1,927 98 


Agents' ledger balances .... 


. 






7,967 03 


Personal loans . . . . 


• 






768 67 


Ledger assets (as per balance) . 


12,544,446 11 


Deduct depreciation from cost of real estate 


, 






11,569 26 


Total net or ledger assets . 


$2,532,876 85 


Other Assets. 








Interest due and accrued .... 


. . 




47,762 08 


Rents due and accrued 


. 




947 07 


Market value of stocks and bonds over par 


. 




54,653 50 


Uncollected premiums on policies in force . 


-117,195 


95 


Deferred premiums on policies in force 


28,486 


06 


Total 


$45,682 01 


Deduct loading (20 per cent) 


9,136 


40 


Net am't of uncollected and deferred prems. 






36 *>£*> fi1 


• 




OU]Uiy U± 


Total assets per company's books 


. 12,672,785 11 


Items not Admitted. 






Agents' balances ..... 


$7,967 03 


Loans on personal security 


768 


67 


Bills receivable ...... 


1,927 


98 


Total 






10 663 fi8 


X \J tell ••••••• 






lUjUUU uo 


Total admitted assets .... 


. $2,662,121 43 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $2,380,748 00 
Deduct net value of re-insured risks ..... 939 00 



Net re-insurance reserve $2,379,809 00 

Prem. obligations in excess of net values of their policies, 44 92 

Matured endowments due and unpaid . $636 84 

Death losses and matured endowments in 

process of adjustment .... 37,425 00 

Total policy claims .... 38,061 84 



8 



MASSACHUSETTS LIFE 



[Dec. 31, 



Unpaid dividends of surplus due policy-holders 
Premiums paid in advance . . 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities • 



117,453 90 
4,192 83 

$2,439,562 49 
222,558 94 

$2,662,121 43 



Premium Note Account. 



Premium notes on hand Dec. 31, 1878 

Premium notes received during 1879 . 

Total ...... 

Used in payment of losses and claims 
Used in payment of surrendered policies 

and voided by lapse 
Used in payment of dividends to policy 

holders ...... 

Redeemed by maker in cash 

Total 

Balance note assets Dec 31, 1879 



$258,545 
21,708 



$21,774 

17,795 

16,169 
2,263 



27 
55 

— $280,253 82 
29 

99 



98 
26 



58,003 52 
$222,250 30 



Exhibit of Policies. 
Policies and Additions in. Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 3,385 $7,112,030 00 

Endowment policies ..... 
All other policies ..... 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies . 
All other policies 



Old Policies revived during the Year. 



Whole-life policies 
Endowment policies . 

Total number and amount 



1,573 


1,992,714 00 


1,804 


3,799,916 00 


461 


836,112 00 


124 


184,339 00 


559 


1,224,050 00 


ear. 
10 


22,500 00 


5 


6,000 00 



7,921 $15,177,661 00 



Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity . 

by expiry 

by surrender . 

by change and decrease 
Not taken 

Total terminated 



70 


$174,635 00 


100 


122,618 00 


670 


1,446,816 00 


46 


93,597 00 


586 


1,248,681 00 


84 


168,600 00 


. 1,556 


$3,254,947 00 



1879.] 



INSURANCE COMPANIES. 



Policies in Force Dec. 31, 1879. 



Whole-life policies 

Endowment policies ...... 

All other policies ...... 

Totals . . . . 

Prudential policies in force Dec. 81, 1879 . 

Schedule A. 

Securities held as Collateral. 



Number. Amount. 

3,254 $6,724,781 00 

1,495 1,859,383 00 

1,616 3,338,550 00 



6,365 $11,922,714 00 
9,327 



Atchison, Topeka, and Santa Fe R.R. b'ds, 
Puebla and Arkansas Valley R.R. b'ds 
Ottawa, Oswego, and Fox R. Val. R.R. b'ds, 
205 shares American Whip Company 
United States bonds ..... 
200 shares Burl, and Mo. R. R.R. bonds . 



Schedule B. 
Stocks and Bonds owned by the 

United States bonds . 
Massachusetts state bonds . 
Cuyahoga county (O.) bonds 
Marion county (Ind.) bonds 
Lynn city bonds 
Salem city bonds 
Bath city bonds 
Cambridge city bonds 
Albany city bonds 
Cincinnati city bonds 
Chicago city bonds 
Evansville city bonds 
Cleveland city bonds . 
St. Louis city bonds . 
Indianapolis city bonds 
Columbus city bonds 
Fall River city bonds 
Toledo city bonds 

Philad., Wilm'ton, and Bait. R.R. bonds . 
Chic, Burlington, and Quincy R.R. bonds, 
Ogdensburg and L. Cham plain R.R. b'ds, 
Vt. Central and Vt. and Canada R.R. b'ds, 
Illinois Grand Trunk Railroad bonds 
Michigan Central Railroad bonds 
Grand River Valley Railroad bonds . 
2 



Market value. 

$1,125 00 

1,070 00 

1,180 00 

20,500 00 

2,140 00 

27,400 00 



Company. 
Par value. 

$25,000 00 

100,000 00 

10,000 00 

10,000 00 

14,000 00 

5,000 00 

2,000 00 

2,000 00 

5,000 00 

20,000 00 

10,000 00 

5,000 00 

20,000 00 

11,000 00 

13,000 00 

20,000 00 

11,000 00 

10,000 00 

7,000 00 

20,000 00 

5,000 00 

6,000 00 

20,000 00 

5,000 00 

10,000 00 



Amount loaned. 

$1,250 00 

800 00 

12,000 00 

2,000 00 

20,000 00 



$53,415 00 $36,050 00 



Market value. 



$26 

110 

10 

10 

14 

5 

1 
o 

5 

23 
10 

5 
20 
11 
13 
20 
11 
10 

7 
23 

5 

2 
22 

5 
10 



,031 25 
,125 00 
,400 00 
,500 00 
,790 00 
,375 00 
,980 00 
,120 00 
,500 00 
,000 00 
,700 00 
,400 00 
,850 00 
,770 00 
,650 00 
,630 00 
,935 00 
,000 00 
,350 00 
,600 00 
,000 00 
,100 00 
,600 00 
,650 00 
,800 00 



10 



MASSACHUSETTS LIFE 



[De< 



Cedar Rapids and Missouri R. R.R. bonds, 
Jackson. Lansing, and Saginaw R.R. b'ds, 
Boston and Providence Railroad bonds 
Boston and Albany Railroad bonds . 
Nashua and Rochester Railroad bonds 
Lowell and Andover Railroad bonds . 
Old Colony Railroad bonds 
Boston and Maine Railroad stock 
Vermont and Canada Rail: k . 

New England Mort. Security ( i id- 

Boston Gas-Light Company - . 

Newton and Watertown G. L I 
100 share.- New England National Bank 

50 •• Tremont National Bank . 
100 *• Continental National Bank 

Boylston National Bank 
100 " Washington National Bank 

22 " Stat.- National Bank 



Par value. 

10,000 <»<» 



120, 
25,000 
20, 
1,01 

12,000 00 

1" 

oo 00 

10, 
10, 



Market value. 

Sir,. 
11.000 00 

141, 
21,7 

21.200 00 

no 

14,012 

i" 

12. 



$74 J 



MASSA< BUSEI rS HOSPITAL LIFE INSURANi UPANI 

(>F BOSTON. 

I'MI'-l i 

JOHM L. <- m:i.\i R, /' : | 

Income. 

Total premium income ....... 

Cash .I i'<.r ii ■ ii 

Cash 1 for commi .... 

Total income 



I >!~ l QR8I Ml Ml 

Cash paid f<> annuitants ..... 
for dividen 

to Massach j . 

foi Hid oiii,-,. empl 

for ... 

at 

for incidei 



10, 
21, 



Total diwhurKemenl 






1879.] 



INSURANCE COMPANIES. 



11 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate 
Loans on mortgage of real estate (first liens) 
Loans on collateral security 
Cost value of stocks and bonds owned 
Cash deposited in bank .... 



$5,985 00 
680,986 27 
216,198 15 
118,360 30 

15,231 84 



Other Assets. 

Interest due and accrued .... 
Market value of real estate over cost . 
Market value of stocks and bonds over cost 

Total assets per company's books 



16,780 38 
2,061 50 
4,419 48 

. $1,060,022 92 



Liabilities. 

Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 

Due and unpaid on annuity claims . 
i 

Liabilities as to policy-holders 

Surplus as regards policy-holders 

Gross liabilities 



Policies in force Dec. 31, 1879 . 
Annuities in force Dec. 31, 1879 



$266,674 00 
2,556 17 

$269,230 17 
790,792 75 

1,060,022 92 



Number. Amount. 

5 $13,000 00 
125 201,369 00 



MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY 

OF SPRINGFIELD. 

[Incorporated May 15, 1851. Commenced business Aug. 1, 1851.] 

E. W. Bond, President. Secretary, Avery J. Smith. 



Income. 

Total premium income . . . • . 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance . 
for rents of company's property . 

Total income ....... 

Net or ledger assets Dec. 31, 1878 . . 



Total $7,200,015 87 



$774,609 13 

297,867 54 

534 93 

2,839 76 

32,485 45 

111,108,336 81 

6,091,679 06 



12 



MASSACHUSETTS LIFE 



[Dec. 31, 



Disbursements. 

Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values applied in payment of premiums 
Cash dividends paid policy-holders. $1 t,72 tpplied i 

payment of premiums, $75,326 62 .... 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner" 

for salaries of officers and office employes . 

for taxes and fi ..... 

for rent . 

for advertising and printing 

for expenses on real estate 

for incidentals ...... 

Profit and loss account ...... 

Total disbursements ...... 

Balance ........ 

Invested in the following: — 

Assets is peb Ledgi b \> i 
Cost value of real estate ..... 
Loans on mortgage of real estate (firsl liens) 

on collateral security (schedule A) . 

on company's policies assigned as collateral 
Premium note- or Loans on policies in & 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office . 
Cash deposited in bank 
Bills receivable 

Ledger assets (as per balance) 
Deduct depreciation from cost o\ assets 

Total nel »>r Ledger assets . 



9401,156 92 

12,766 54 

124,004 61 

19,495 39 

7,423 46 

3,500 00 

3,923 46 

20,279 86 

I 36 

UJ',423 99 

90,052 19 

71,807 28 

•841,468 14 
17 

10,238 13 

72 00 

36,760 72 

11. 

54,81 

11,504 M 
21, 



•6,117,727 13 



U,113,4S 

16,160 46 

l:<.. 

17 
1 1 M 

16,117,727 W 
14,824 H 

|6,1<K 



1879.] 



INSURANCE COMPANIES. 



13 



«• Other Assets. 

Interest due and accrued . 

Rents due and accrued 

Market value of real estate over cost . 

Market value of stocks and bonds over cost 

Uncollected premiums on policies in force 

Deferred premiums on policies in force 

Total 

Deduct loading (16 per cent) 

Net am't of uncollected and deferred prems 

Furniture and fixtures 

Cash in hands of agents, secured 

Total assets per company's books 



,261 21 
89,185 66 

$137,446 87 
21,991 50 



$223,239 99 

4,765 86 

87,181 64 

99,936 29 



- 115,455 37 
3,000 00 
3,245 23 

. $6,639,727 39 



Office furniture, etc. 
Bills receivable . 
Total . 



Items not Admitted. 

$3,000 00 

2,344 59 



5,344 59 



Total admitted assets 



. $6,634,382 80 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks ..... 



Net re-insurance reserve 
Death losses due and unpaid 
Death losses and matured endowments in 

process of adjustment . ... 
Claims resisted by the company 

Total policy claims .... 
Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities ..... 



$5,844,747 00 
28,232 00 

$5,816,515 00 



$4,245 00 

88,871 00 
44,369 00 



137,485 00 

13,566 93 

3,288 45 

$5,970,855 38 
663,527 42 

$6,634,382 80 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $745,295 83 

Premium notes received during 1879 . . 127,191 78 

Total 

Used in payment of losses and claims . $32,261 93 
Used in payment of surrendered policies, 

and voided by lapse .... 57,211 40 



$872,487 61 



14 MASSACHUSETTS LIFE [Dec. 31, 

Used in payment of dividends to policy- 
holders $71,807 

Redeemed by maker in cash . . . 3,078 

Total 1165,259 11 



Balance note assets Dec. 31, 1879 .... 1707,228 20 

Exhibit of Policies. 

Policies and Additions in Force Dec, 31, 1878. 

Number. Amount. 

Whole-life policies 8,358 1,043 00 

Endowment policies 2,362 3,824,981 00 



All other policies 2,663 


0,102,045 00 


New Policies issued in 1879. 




Whole-life policies 783 


2,094,410 00 


Endowment policies . . . . . . 188 


5,738 00 


All other policies 38 


138,740 00 


Old Policies revived duriny the Year. 




Whole-life policies ...... 1 


5,000 00 


All other policies ...... 1 


1,000 00 


Policies increased during the year ... 1 


1,000 00 



Total number and amount .... 14,395 $32,347,557 00 

Policies ceased to be in Force duriny th< )~<<ir. 

Terminated by death ..... 

by maturity .... 

by expiry .... 

by surrender .... 

by lapse 

by change and decrease . 
Not taken 

Total terminated .... 

Policies in Force Dec. 52, 1879. 

Whole-life policies 8,358 819,028.288 00 

Endowment policies 2,277 31,372 00 

All other policies 2,430 



164 


-1,976 00 


100 


140,815 


002 


1,583,600 00 


218 


591,541 00 


140 


401,250 00 


. 


1S6,530 00 


Ill 


284,700 00 


. 1,330 


$3,570,412 00 



Totals 13,065 $28,777,145 00 

Schedule A. 
Securities held as Collateral. 

Market value, Amount loaned. 

19 shares Springfield Gas-Light Company. 850 00 ,900 00 

15 " Union Paper Manufacturing Co. 1,500 00 1,500 00 

425 " Hampden Paint and Chem. Co. 10,200 00 7.0» 



1879.] 



INSURANCE COMPANIES. 



15 



40 shares Union Paper Manufacturing Co 
70 " Springfield Gas-Light Company- 
Chicago and Illinois River Railway Co. 
Assignment of judgment . 

25 shares Pynchon National Bank . 

50 " Worthy Paper Company . 

20 " Union Paper Company 
843 " Beebe & Holbrook Paper Co. 

20 " Massasoit Paper Company 

19 " Farmers' andMechs'. Nat. Bank 

5 " Phoenix National Bank 

6 " iEtna National Bank 
5 " Charter Oak National Bank 

13 " Pynchon National Bank . 
5 " John Hancock National Bank 
Assignment of mortgage . 

8 shares Leicester National Bank . 
120 " Chicopee Water Power Co. 

38 " N. Y., N. H., andH. R.R. 
Council Bluffs and St. Joseph R.R. bonds, 
Kansas City, St. Jos., andC.B. R.R. bonds, 
Newfane (N.Y.) town bonds 
Yates (N.Y.) town bonds . 
Connecticut Central Railroad bonds 
Connecticut Central Railroad bonds 
25 shares N. Y., N. H., and H. R.R 
10 " Boston and Albany Railroad 
10 " National New Haven Bank 
Kansas City and St. Joseph R.R. bonds 
Pettis County (Mo.) Railroad bonds . 
100 shares Cocheco National Bank 
455 " Union Paper Company 
150 " Union Paper Company 
Kansas City and St. Joseph R.R. bonds 
Kansas City and St. Joseph R.R. bonds 
30 shares Cocheco National Bank 
Loaned on personal security 



Market value. 

$4,000 00 
10,500 00 
22,500 00 
7,500 00 
4,050 00 
5,500 00 
2,000 00 
105,375 00 
2,500 00 
2,261 00-^ 
760 00 I 
714 00 i 
645 00 J 
2,106 00-j 
560 00 I 
1,500 00 j 
920 00 J 
12,000 00 
5,890 00 
8,000 00 ) 
5,300 00) 
800 00^ 
800 00 [■ 
600 00) 
13,200 00 
3,875 00) 
k 1,340 00 [■ 
1,400 00) 
2,120 00 
1,000 00 
9,000 00 
45,500 00 
15,500 00 
23,320 00 
40,280 00 
2,700 00 



Amount loaned 

$2,700. 00 
8,500 00 

30,000 00 

2,500 00 
5,000 00 

50,000 00 
800 00 

2,900 00 



5,000 00 

9,000 00 
5,000 00 

10,000 00 

1,500 00 

10,000 00 

4,500 00 

1,000 00 

500 00 

10,000 00 

40,000 00 

32,500 00 

34,000 00 
2,400 00 
3,000 00 

$281,200 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds . $242,700 00 

2,942 00 
25,000 00 
16,750 00 



Springfield city bonds 
Cleveland city bonds . 
Washington county (111.) bonds 
Cass county (111.) bonds 



Market value. 

$253,014 75 
3,000 00 
26,875 00 
18,000 00 
17,100 00 19,000 00 



16 



MASSACHUSETTS LIFE 



[Dec. 31, 



White county (111.) bonds . 
Monmouth township (111.) bonds 
Kankakee township (111.) bonds 
Lewiston township (111.) bonds . 
Tuscola township (111.) bonds . 
Edwardsville township (111.) bonds 
Mason county (111.) bonds . 
Kankakee county (111.) bonds 
Warren county (111.) bonds 
Kansas city water bonds . 
Boston and Albany R.R. stock . 
N. Y., N. H., and H. R.R. stock 
N. Y. Central and Hudson R. R.R. stock 
Chicago and Rock Island Railroad stock 
Burlington, C. R., and Northern R.R. stock 
Ashuelot Railroad Company stock 
Ind., Bloomington, and Western R.R. stock 
Kansas and Nebraska Railroad stock . 
Council Bluffs and St. Joseph R.R. bonds 
St. Louis, Alton, and Terre Haute R.R. bonds 
Buffalo, New York, and Erie R.R. bonds 
Ind., Bloomington, and West'rn R.R. bonds 
Burlington, C. R., and North'rn R.R. bonds 
Kansas and Nebraska Railroad bonds 
Syracuse, Binghamton, and N.Y. R.R. bonds 
Kansas City, St. Jos., and C. B. R.R. bonds 
Kansas Pacific Railroad bonds . 

5 shares Agawam Nat'l Bank, Springfield 
20 " Pynchon Nat'l B'k, Springfield 
124 " First Nat'l Bank, Springfield 
81 " Second Nat'l Bank, Springfield 
35 " Chicopee Nat'l B'k, Springfield 
17 ' l John Hancock Nat'l B'k, Spgfld 
100 " City Nat'l Bank, Springfield 

24 " First National Bank, Chicopee 

34 " First Nat'l Bank, Northampton 
15 " Eliot National Bank, Boston 

25 " Webster National Bank, Boston 

35 " Nat'l B'k of Commerce, Boston 
15 " Merchants' Nat'l Bank, Boston 
38 " Metropolitan Nat'l Bank, N.Y 



Cost value. 

$11,550 00 

24.375 00 

11,000 00 

40,000 00 

5,000 00 

11,700 00 

14,625 00 

30,000 00 

20,900 00 

24,375 00 

92,693 88 

15,149 50 

9,775 00 

8,925 00 

2,200 00 

25,000 00 

2,000 00 

1,000 00 

51,154 25 

30,026 25 

21,000 00 

55,000 00 

6,800 00 

7,000 00 

50,000 00 

71,294 02 

24,823 49 

515 00 

1,975 00 

13,850 00 

9,930 00 

5,120 00 

1,924 00 

10,000 00 

2,586 00 

3,455 50 

1,522 50 

2,625 00 

3,500 00 

1,844 57 

5,454 50 



Market value. 

$12,000 00 

25,000 00 

11,550 00 

42,000 00 

5,250 00 

12,000 00 

15,000 00 

31,500 00 

22,000 00 

25,000 00 

95,215 00 

15,345 00 

13,450 00 

14,800 00 

3,570 00 

28,000 00 

3,600 00 

2,250 00 

60,000 00 

34,650 00 

23,000 00 

60,800 00 

7,040 00 

9,230 00 

57,000 00 

84,800 00 

26,520 00 

575 00 

3,240 00 

17,360 00 

13,122 00 

4,900 00 

1,904 00 

10,500 00 

3,600 00 

4,335 00 

1,710 00 

2,725 00 

4,200 00 

2,070 00 

5,396 00 



,036,160 46 $1,136,096 75 



1879.] 



INSURANCE COMPANIES. 



17 



NEW ENGLAND MUTUAL LIFE INSURANCE COMPANY OF 

BOSTON. 

[Incorporated April 1, 1835. Commenced business Dec. 1, 1843.] 

Benjamin F. Stevens, President. Secretary, Joseph M. Gibbens. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
for rents of company's property . 

Profit and loss account . . . . 

Total income ....... 

Net or ledger assets Dec. 31, 1878 .... 



Total 



$1,558,844 69 

773,050 41 

13,312 50 

59,516 18 

14,445 73 

$2,419,169 51 
13,888,663 15 

$16,307,832 66 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies . . . 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse 

Cash distributions paid policy-holders, applied in payment 

of premiums ........ 

Premium notes or loans used in payment of distributions 



Total paid policy-holders .... 
Cash paid for commissions to agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes ...... 

for advertising 

for incidentals ..... 
for premium on investments 

Total disbursements 



$776,263 12 

35,226 88 

392,282 26 

66,094 74 

,269,867 00 
229,785 22 

38,140 21 

410,006 80 
86,834 05 

1,034,633 28 
81,491 56 
5,233 00 
77,640 84 
14,413 07 
13,412 66 
84,165 27 
32,445. 01 



. $2,343,434 69 



Balance 



$13,964,397 97 






MASSACHUSETTS LIFE 



[Dec. 



Invested in the following: — 

Assets as per Ledger a- 

value of real estate ..... 
Loans on mortgage of real :ir>t liens) 

on collateral security schedule A) . 
on company's policies assigned as collateral 
Premium notes or loans on policies in force 

value of stocks and bonds owned (schedule B) 
Cash deposited in bank ..... 
Quarterly and semi-annual premium notes 

Ledger ass- er balance) 

Other a 

Interest due and accrued ..... 

Rents due and accrued ..... 

Market value of stocks and 

Deferred premiums on policies in force 

Deduct loa per ce: 

Net ara't of uncollected and del 



5,900 00 
2,1} - 

00 
5,500 00 

1 41 



06 

11 



ls,8W 00 






Total assets per company's books 






Liaiui irn 
Computed premiuii f all CM 

standing policu .1 10 00 



Death losses unpaid .... 
ured endowm ■ . . 

aid distribul 

'.iry-lioMfrs . 
i'lus as i lers 

. 

I'll Ml 

ud I'- 81 . 1 - 
Premium rotes i 

il . 

and roided by lapse 

bolden ... . 

li 
tal . . 

• • I •• 



00 









. I* 



M 

00 



• 


. 




N T. 






ei. 




v.; 


1101, 


v- 








■ 


.._ 


ill - Lftfl 





1879.] 



INSURANCE COMPANIES. 



19 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 13,111 $41,031,542 00 

Endowment policies 3,105 7,011,458 00 

All other policies 2,961 8,099,429 00 

Reversionary additions - 95,250 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 
All other policies 



Old Policies revived during the Year. 



Whole-life policies 
Endowment policies . 
All other policies 
Additions by dividends 

Total number and amount 



. 1,073 


3,344,461 00 


310 


889,719 00 


78 


238,792 00 


e Year. 




62 


218,012 00 


18 


51,000 00 


2 


5,000 00 


. 


9,691 00 


. 20,720 ! 


160,994,354 00 



Policies ceased to be in Force during the Year. 
Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse . 

by change and decrease 
Not taken 

Total terminated 



249 


$747,515 00 


210 


468,252 00 


427 


1,271,306 00 


302 


996,063 00 


620 


1,846,975 00 


. 


7,500 00 


162 


514,869 00 


. 1,970 


$5,852,480 00 



Whole-life policies 



Policies in Force Dec. 31, 1879. 

13,202 $41,220,570 00 



Endowment policies . 
All other policies 
Reversionary additions 

Totals 



2,992 
2,556 



6,979,097 00 

6,840,821 00 

101,386 00 



18,750 $55,141,874 00 



Schedule A. 

Securities held as Collateral. 



Market value. Amount loaned 



Fitchburg and Worcester Railroad bonds . $812 00 

150 shares Connecticut and Passumpsic R.R. 8,700 00 

75 " Mississippi Valley Railroad . 4,350 00 

130 " N. Y., Pro v., and Boston R.R. . 17,550 00 

200 " Burl, and Mo. Riv. R.R.(inNeb.) 27,400 00 j 



$700 00 



35,000 00 



20 



MASSACHUSETTS LIFE 



[Dec. 31, 



12 shares Lancaster Mills 
150 " Worcester National Bank . 
United States bonds .... 
20 shares Boston Safe Deposit and Trust Co 
United States bond .... 
109 shares Glen don Iron Company 

10 " Xational Exchange Bank . 
500 " "Props, of the Revere House" Co 



Market value. 
19,750 00 

17.250 00 

4,219 

2,000 
520 00 

8,175 00 

1,400 00 
50,000 00 



37) 

00) 



Amount loaned. 

$5,000 00 
15,000 00 

6,000 00 

500 00 

5,000 00 

1,000 00 

40,000 00 

$152,126 37 $108,200 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. Market value. 

72 shares Atlantic National Bank . . $7,101 00 $10,080 00 

100 " Bay State Xational Bank . . 7,500 00 7,500 00 

333 " Boston Xational Bank . . 33,300 00 35,964 00 

100 " Continental National Bank . 10,000 00 10,500 00 

50 " First Xational Bank, Cambridge, 5.000 00 7,500 00 

21 " Massachusetts National Bank . 5,250 00 6,037 50 

91 " Merchants' Xational Bank . 9.100 00 12,558 00 

107 " Xational City Bank of Lynn . 10,716 67 15,30100 

150 " Xational Revere Bank . . 15,000 00 17,250 00 

150 " National Hide and LeatberBank, 15,000 00 16,650 00 

240 " National Eagle Bank . . 24,000 00 26,880 00 

120 " State Xational Bank . . 10,273 10 13,920 00 

320 " Tremont National Bank . . 31,95125 37,760 00 

200 " National Webster Bank . . 20,000 00 21,000 00 

250 " Boston Safe Dep. and Trust Co. 25,000 00 25,000 00 

250 " Merchandise Xational Bank . 25,000 00 24,750 00 

744 " Boston and Albany Railroad . 74,400 00 102,672 00 

300 " Boston and Providence Railroad, 29,950 00 37,800 00 

880 " Chicago, Burl., and Quincy R.R. 88,000 00 120,500 00 

800 " Conn, and Passumpsic Railroad, 30,000 00 46,400 00 

300 " Eastern Railroad . . . 1,350 00 7,500 00 

300 " Phil., Wil., and Baltimore R.R. 15,000 00 20,400 00 

135 " Fitchburg Railroad . . . 13,252 00 16,605 00 

150 " New York and New Haven R.R. 15,000 00 23,250 00 

850 " NorwichandWorcesterR.il. . 84,925 25 112,200 00 

100 " Northern Railroad . . . 10,000 00 8,400 00 

200 " Connecticut River Railroad . 20,000 00 28,400 00 

220 " Chicago and Alton Railroad . 22,000 00 22,000 00 

400 " Ports., Gt. Falls, and Con'y R.R. 1,200 00 5,200 00 

200 " Portland, Saco, and Ports. R.R. 20,000 00 20,000 00 

105 " Eastern R.R. of New Hampshire, 3,150 00 8,400 00 

Eastern Railroad bonds . . . 145,332 78 225,500 00 

Phila., Wilm., and Baltimore R.R. bonds, 75,871 67 84,800 00 

Agricultural Branch Railroad bonds . . 14,895 00 17.100 00 

Michigan Central Railroad bonds . . 73,000 00 79,570 00 

Boston, Concord, and Montreal R.R. bonds, 500,000 00 515,000 00 



1879.] 



INSURANCE COMPANIES. 



21 



Chicago, Burlington, and Quincy R.R. bds 

Worcester and Nashua Railroad bonds 

New Haven and Derby Railroad bonds 

Nashua and Rochester Railroad bonds 

Albany city loan 

Boston city loan 

Charlestown city loan 

Chicago sewerage loan 

Hartford city loan 

Chelsea city loan 

Lawrence city loan 

Lynn city loan . 

Dorchester city loan 

Massachusetts state loan 

New Hampshire state loan 

Rhode Island state loan 

Cincinnati city loan . 

Beverly town loan 

Worcester water loan 

Lowell city loan 

Brookline town loan . 

Worcester city loan . 

Somerville city loan . 

Fitchburg city loan . 

Springfield city loan . 

Providence city loan . 

Loan to Providence and Worcester R.R. 

Norwich loan 

Meriden loan 

Fall River loan 

Cambridge loan 

Maine loan 

Holy ok e loan 

Newton loan 

Haverhill loan 

New York loan 

Mercantile Trust Company loan 

New England Mortgage Security Co. loan 

New Bedford loan 

Salem loan 

Taunton loan 

Norwalk loan 

Lewiston loan . 

Pawtucket loan . 

55 shares Boston Gas-Light Company 
5 " Dwight Manufacturing Company 
5 " Massachusetts Cotton Mills 

United States bonds . 



Cost value. 

$120,000 00 

75,000 00 

14,250 00 

116,191 66 

23,256 00 

720,736 12 

72,716 67 

70,350 00 

100,000 00 

226,504 17 

186,210 83 

226,000 00 

65,000 00 

124,172 35 

26,000 00 

60,000 00 

95,000 00 

225,000 00 

110,000 00 

56,533 33 

475,100 00 

495,000 00 

70,000 00 

125,485 17 

126,000 00 

146,403 06 

100,000 00 

94,000 00 

100,000 00 

203,000 00 

2,000 00 

17,500 00 

5,000 00 

70,000 00 

5,000 00 

300,000 00 

50,000 00 

100,000 00 

10,000 00 

10,000 00 

39,000 00 

50,000 00 

100,000 00 

150,000 00 

27,500 00 

5,000 00 

5,000 00 

1,591,000 00 



Market value. 

$138,000 00 

65,250 00 

16,800 00 

108,750 00 

, 26,400 00 

765,730 00 

76,500 00 

84,000 00 

110,000 00 

253,400 00 

208,680 00 

229,395 00 

65,000 00 

140,340 00 

29,120 00 

67,200 00 

104,500 00 

231,100 00 

116,350 00 

63,700 00 

506,614 00 

510,000 00 

72,000 00 

136,820 00 

153,720 00 

165,635 00 

104,000 00 

102,480 00 

110,000 00 

223,300 00 

2,040 00 

18,585 00 

5,300 00 

76,200 00 

5,450 00 

321,000 00 

51,000 00 

95,000 00 

10,300 00 

10,350 00 

43,680 00 

54,500 00 

101,000 00 

157,500 00 

38,500 00 

3,000 00 

5,500 00 

1,674,015 00 



1,682,428 08 $9,478,111 50 



22 



MASSACHUSETTS LIFE 



[Dec. 31, 



STATE MUTUAL LIFE ASSURANCE COMPANY OF 

WORCESTER. 

^Incorporated March ]6, 1844. Commenced business June 1, 1845. J 

Isaac Davis, President. Secretary, Clarendon Barrib. 



Income. 

Total premium income I 19 78 

Cash received for interest on stocks, bonds, and loans . 123,851 21 

Total income - 99 

Net or ledger assets Dec. 31, 1S78 2 

Total 12,680,167 09 



Dl8BUR8BMEN 1 B. 

Cash paid for losses and additions 

Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 

Cash paid for surrendered policies 
Cash dividends paid policy-holders . 

Total paid policy-holders . 
Cash paid for commissions to agents . 
for salaries and travelling BZ] 

for medical examiner's fees 

for salaries and incidentals 

for taxes and fees 

for rent ..... 

Total disbursement 

Balance ...... 

Invested in the follow ing: — 

Asss rs as n b Ledgi b A 

Cost value of real estate 

Loans on mortgage Of real estate (firs! liens) . 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in fori 
Cost value of Btocks and bonds owned (schedu 
('ash deposited in bans ..... 
Bills receivable .... 



- 
11. 

$11 

1 1,915 38 

I 43 

18 

17,905 01 

l.-j. 

12,426 



150,000 00 
165 

17,066 -7 

1 71 



Ledger assets (as per balance) 



ei?,4i 



1879.] 



INSURANCE COMPANIES. 

Other Assets. 



Interest accrued ..... 

Market value of stocks and bonds over cost 

Total assets per company's books 



23 



$12,000 00 
93,484 55 

$2,533,756 61 



Items not Admitted. 
Bills receivable . 

Total admitted assets . . . 



400 00 



. $2,533,356 61 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . .$1,995,900 00 

Death losses and matured endowments in 

process of adjustment .... $12,000 00 

Claims resisted by the company . . 10,000 00 

Total policy claims .... 



Unpaid dividends of surplus due policy-holders . 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities .... 



Premium notes on hand Dec. 31,' 1878 
Premium notes received during 1879 . 

Total 

Used in payment of surrendered policies 

and voided by lapse 
Redeemed by maker in cash 

Total ...... 

Balance note assets Dec. 31, 1879 



22,000 00 

2,463 47 

^2,020,363 47 

512,993 14 





$2,533,356 61 


lCCOUNT. 

$18,364 05 
41,155 62 


$59,519 67 




$955 00 
41,497 80 


42,452 80 




. • . • 


$17,066 87 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 3,774 $7,888,990 00 

Endowment policies 902 1,747,920 00 

Reversionary additions - 184,402 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 



205 
62 



531,500 00 
165,000 00 



Total number and amount . 



4,943 $10,517,812 00 



24 



MASSACHUSETTS LIFE 



[Dec. 31, 



Policies ceased to be in Force during the Year* 

Number. 

Terminated by death 17 

by maturity ..... 9 

by surrender ..... 50 

by lapse ...... 187 



Total terminated 



Amount. 

,154 00 
14,400 00 

117.000 00 
I 00 



$603,054 00 



Policies in Force Dec. 31, 1879. 



Whole-life policies 
Endowment policies . 
Reversionary additions 

Totals 



3,746 



17,945,900 00 

1.7: 
178,248 00 



4,650 $0,914,758 00 



United States bonds 



Schedule A. 

Securities held as Collateral. 

Market value. 

$51,625 00 



AflMUfl loaned. 

$50,000 00 



Schedule B. 

Stocks and Bonds owned by the Company. 



United States bonds . 
Springfield city bonds 
Providence city bonis 
Worcester city bonds . 
Lowell city bonds 
Holyoke city bonds . 
Meriden (Conn.) city bonds 
Portland (Me.) city bonds. 
Portsmouth (N.II.) city bonds 
Newton (Mass.) city bonds 
Newburyport city bonds . 
Meriden (Conn.) city bonds 
Cambridge city bonds 
Lynn city bonds 
Bangor (Me.) city bonds . 
Portland (Me.) city bonds. 
Lawrence (Mass.) city bonds 
Dover (N.II.) city bonds . 
Boston city bonds 
Essex town bonds 
( pton town bonds 
Pawtucket (H.I.) town bonds 

Williamstown town bonds . 



.11.". 00 
10, 

11, 

17 

!1 1!) 

19, 

,700 00 
14,642 
85,500 

19,000 00 
75,000 00 
24,610 



et value. 

148,580 00 

11. 

12, 

19,040 

11, 

19, 

16, 

24, 

26, 



1879.] 



INSURANCE COMPANIES. 



25 



Brookline town bonds 

Amesbury town bonds 

West Springfield town bonds 

Medway town bonds . 

Grafton town bonds . 

Berlin town bonds 

Winthrop town bonds 

Northampton town bonds . 

Wiscasset (Me.) town bonds 

100 shares Third National Bank 
50 " Westminster National Bank 
20 " Northborough National Bank 
50 " Wachusett National Bank 
50 " Leicester National Bank . 
80 " Millbury National Bank . , 
79 " Grafton National Bank . 
40 " City National Bank . 

187 " Quinsigamond National Bank 
35 " Worcester National Bank . 
25 " Central National Bank 

100 " Continental National Bank 
67 " Shawmut National Bank . 

167 " Howard National Bank . 
50 " First National Bank . 
25 " Suffolk National Bank 
40 " Eliot National Bank . 
67 u Revere National Bank 
75 " Republic National Bank . 

115 " Mutual Redemption Nat'l Bank 

100 " Tremont National Bank . 
50 " Webster National Bank . 

112 " Hide and Leather Nat'l Bank 

195 " Atlantic National Bank 

Boston and Albany Railroad bonds . 

Worcester and Nashua R.R. bonds . 

Providence and Worcester R.R. bonds 



Cost value. 

$20,000 00 

10,400 00 

12,625 00 

10,350 00 

10,000 00 

10,000 00 

10,200 00 

23,500 00 

9,235 00 

10,000 00 

5,000 00 

2,000 00 

5,000 00 

5,525 00 

8,000 00 

7,900 00 

4,000 00 

18,790 00 

4,900 00 

2,500 00 

10,012 50 

6,725 00 

17,115 50 

5,000 00 

3,350 00 

4,075 50 

6,756 25 

7,562 50 

15,985 00 

13,300 00 

5,275 00 

11,575 00 

24,723 75 

125,365 00 

101,500 00 

306,000 00 



Market value. 

$25,000 00 

11,200 00 

13,750 00 

11,000 00 

10,600 00 

11,000 00 

11,000 00 

28,000 00 

8,100 00 

16,000 00 

5,0C0 00 

2,360 00 

3,750 00 

5,600 00 

8,960 00 

9,085 00 

4,000 00 

21,505 00 

4,375 00 

3,375 00 

10,500 00 

7,437 00 

19,038 00 

9,012 50 

2,875 00 

4,320 00 

7,705 00 

9,150 00 

15,496 25 

11,800 00 

5,250 00 

12,460 00 

27,348 75 

135,520 00 

87,000 00 

324,000 00 



$2,022,800 45 $2,116,285 00 



LIFE INSURANCE COMPANIES 

OF OTHER STATES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1879. 



28 



LIFE INSURANCE COMPANIES [Deo. 31. 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



^TNA LIFE INSURANCE COMPANY OF HARTFORD, CONN. 

[Incorporated 1S20. Commenced bu$ir as 
Paid-up Capital. |750,000. 
Morgan G. Bclkeley, President. Secretary, J. L. ENGLISH. 

Income. 

Total premium income ....... $2,487,606 80 

Cash received for interest on stocks, bonds, and loans . 1,706,950 64 
for interest on other debts due the company, 24,220 93 
as discount on claims paid in advance . . 23 56 



Total income 
Net or ledger assets Dec. 31, l v 7 v 



Total 



Disbursements. 

Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 
Received for losses and claims on policies re-insured 



. 14,318,301 93 
. 23,761,342 09 

.079,644 02 



11,280,427 20 
96,10c 
721,004 20 
68,181 

82,155,713 00 
.095 00 



Net amount paid for losses and endowment^ 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values, including reconverted additions 

applied in payment of premiums .... 
Cash dividends paid policy-holders, applied in payment of 

premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for dividends to stockholders 

for commissions to agents .... 
for salaries and travelling expenses of agents 
for medical examiner's fees 



12,132,618 00 

.575 38 

60,979 44 

7 68 

320,166 60 
182,901 28 

13,011,838 88 

213 
15,466 16 
12, 



1879.] 



OF OTHER STATES. 



29 



Cash paid for salaries of officers and office employes 
for taxes and fees 
for rent .... 
for furniture and office fixtures 



for advertising . 
for incidentals . 
Profit and loss .... 

Total disbursements . 

Balance .... 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate ....... 

Loans on mortgage of real estate (first liens) 

Loans on collateral security (schedule A) . 

Premium notes (including cash notes taken for premiums), 

Cost value of stocks and bonds owned (schedule B) . 

Cash in company's office . 

Cash deposited in bank 

Bills receivable .... 

Agents' ledger balances 



$51,403 43 

115,603 26 

8,284 45 

115 00 

6,271 22 

32,862 81 

36,891 43 

$3,580,316 11 

$24,499,327 91 



Ledger assets (as per balance) 



Other Assets. 
Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total ...... 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 



$644,901 77 

9,779,581 56 

468,866 91 

2,970,882 26 

. 8,044,910 62 

148,831 97 

. 2,387,095 10 

45,284 38 

8,973 34 

$24,499,327 91 



612,133 19 
305,575 68 



$109,365 69 
109,792 94 

$219,158 63 
43,831 72 



175,326 91 



Total assets per company's books 

Items not Admitted. 

Agents' balances $8,973 34 

Bills receivable 45,284 38 

Total 



$25,592,363 69 



Total admitted assets . 



54,257 72 

$25,538,105 97 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . $21,496,018 00 
Deduct net value of re-insured risks 87,254 00 



Net re-insurance reserve 



$21,408,764 00 



30 



LIFE INSURANCE COMPANIES [Doe 



Death losses due and unpaid 

ired endowments due and unpaid 
Death losses and matured endowments in 
process of adjustment .... 

Claims resisted by the company . 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders 
Attorney's fees ...... 

Reserve for possible depreciation 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities ..... 



$74,033 00 
1.3.424 74 

242.050 00 
27.000 00 



- $358,507 74 

110.827 80 

0,355 36 

.000 00 

121,971,351 90 

. 3,566.751 

125,538,105 97 



Premium Note Account. 



Premium notes on hand Dec. 31, 1C 
Premium notes received during 1879 . 

Total ....... 

Used in payment of losses and claims 
Used in payment of surrendered policies, 

and voided by lapse .... 
Used in payment of dividends to p< 

holders ....... 

Redeemed by maker in cash 

Total 

Balance note assets Dec. 31, 1 



2,398 33 
385.114 21 

$154,281 60 

60,979 11 

2. 001 28 
0,727 29 



13,367,512 54 



- 417,8S0 61 
. |2,048 



Exhibit of Policies. 

Policies and Additions in Force Dec. .?/, 1S78. 

Niinit»or. Amount. 

Whole-life policies ! 3,542 00 

Endowment policies 18,431 17,992,930 00 

All other policii 7. | 00 



Policies issued in 1 



"Whole-life policies 
Endowment policial 
All otli» j r policii 
Policies revived and in< 

Total Dumber and amount 



-17 



7 00 

11 00 
175,858 00 



180,177, 



Policies ceased to bt in Force during tk* Year, 

Terminated by death 

by maturity >i 

by expiry 80 13( 

urrender 1.17<; 



1879.] 



OF OTHER STATES. 



31 



Number. 

Terminated by lapse 1,211 

Not taken 637 



Total terminated 



Amount. 

53,117,901 00 
1,118,031 00 



4,543 $8,439,932 00 



Policies in Force Dec. 31, 1879. 

Whole-life policies 35,383 $53,360,983 00 

Endowment policies 17,870 17,346,810 00 

All other policies 2,999 7,030,245 00 



Totals 56,252 $77,738,038 00 



Schedule A. 
Securities held as Collateral. 



125 shares United States Trust Company 
100 " Willimantic Linen Company 
13 " United States Trust Company 

100 " Hartford City Coal and Salt Co 
80 " iEtna Fire Insurance Company 

300 " Willimantic Linen Company 
25 " Hartford Carpet Company 

150 " United States Trust Company 
40 " iEtna Fire Insurance Company 

400 " Willimantic Linen Company 
50 " Hartford Carpet Company 
25 " iEtna Fire Insurance Company 

300 " Willimantic Linen Company 
30 " Hartford Carpet Company 
85 " Union Salt Company 

168 " iEtna Fire Insurance Company 

520 " Wheeler and Wilson Manuf. Co 
50 " United States Trust Company 
10 " Orient Fire Insurance Company, 

101 " iEtna Fire Insurance Company, 
44 " iEtna Fire Insurance Company, 

8 " Travelers' Insurance Co. 
16 " Central National Bank 
20 " Pacific National Bank 
10 " Phoenix Fire Insurance Co. 
24 " New Haven Manufacturing Co 

United States bonds . 

Keithsburgh town bonds . 

Dayton town bonds . 

Mount Pulaski town bonds 

Assignment of mortgages . 



Market value. 

$9,375 00 

9,000 00 

975 00 

2,000 00 

18,000 00 

27,000 00 

6,000 00 

11,250 00 

9,000 00 

36,000 00 

12,000 00 

5,625 00 

27,000 00 

7,200 00 

34,000 00 

37,800 00 

39,000 00 

3,750 00 

1,100 00 

22,725 00 

9,900 00 

1,520 00 

1,600 00 

2,200 00 

1,950 00 

600 00 

257,500 00 

1,500 00 

1,000 00 

1,000 00 

5,500 00 



Amount loaned. 



J- $50,100 CO 



J 



58,363 31 

14,000 00 

4,000 00 

25,000 00 

39,161 60 
4,000 00 

11,250 00 

960 00 

1,200 00 

2,000 00 

736 00 

416 00 

250,000 00 

2,680 00 

5,000 00 



$603,070 00 $468,866 91 



- 



LIFE INSURANCE COMPANIES [Dee. 31. 



SCHEDULE B. 

I \e Company. 



_ botl liver Bankin, 

: k . 
M Phoenix al Bank . 

Mereanl ional Bank 

: na] Bank 
" •• :nal Bank 

National Bank 
'. "1 " Xational Exchar.::- Bank 
Ameri jnal Bank 

B'k 
133 S al Bank . 

New Britain National Bank 
' • .tional Bank 

.:-- 28 -ijiial Bank 
Hartford Trust Company 
50 •• United States T: npany 

Xatibnal Bank 
> " Security Company . 
United States bond- .... 
ict of Columbia bonds 

ut River Railroad 
.L*. \a Fire Insurance Company 
" •• : k. X. II.. and II. R.R. 

Indianapolis and Cincinnati R.R. bonds 

^mbus and Indianapolis R.R. l>o: 
Cinciunati and Indiana Railroad bonds 
eland, Painesville, and Ash. U.K. l*->nds 
ton and ;n Railroad bonds 

Iiama Railroad bonds 

al Railroad bonds 
Union Pacific Railroad bonds 

.em and Port Che-ter Railroad bonds 
X. Y. Central and Hudson River R. R. bonds 
K- kuk and Des Moines Railroad boi. 
Indiana Central Railroad bonds 

eland and Pittsburg Railroad bonds 
Southern Mini ^iHroad bonds 

tttic Dock bond- . 
South Carolina onds 

issippi i\ ndfl 

Kansas state bonds 
Terre Haute city i"»nds 

Richmond city bunds 



Cost value, 

$17,545 00 
10.312 50 

124.285 50 
42.885 25 
60.900 75 

107.720 25 
92.060 66 
93.729 SO 
93,57 

102.402 25 

15.100 00 

_-.450 00 

".572 25 

79.969 46 

20,825 00 

12 50 

I 00 

10.000 00 

_ "00 

217.126 38 
39.372 25 
17.136 68 

140,051 75 
47.3-0 00 
45,0o<' 
_ 75 00 
25,671 -" 
13.950 00 
890 00 
.0 00 
30,690 00 
99,500 00 

100,000 00 
22.033 20 

717 50 

20,110 00 

75o 00 

545 00 

31.3H1 00 
3,786 05 

61,400 00 
50,500 00 



Market value. 
" 00 

9.900 00 

137.700 00 

50,000 00 

47.600 00 

112.500 00 

78,334 00 

104.760 00 

100.500 00 

65,540 00 

13.300 00 

27.500 00 

107, 00S 00 

82.600 00 

17.000 00 

3.750 00 

21,000 00 

10,600 00 

991,800 00 

258,000 00 

50.416 00 

14.175 00 

148,025 00 

50,000 00 

50,000 00 

24.000 00 

26,000 00 

15,500 00 

1,000 00 

4.100 00 

33,000 00 

112,000 00 

120,000 00 

16,431 00 

9,000 00 

1,000 00 

22,000 00 

26,000 00 

31,167 00 

15.200 00 

10,880 00 

lol.ooo 00 

70.350 00 

.000 00 



1879.] 



OF OTHER STATES. 



33 



Mobile city bonds 
Hartford city bonds . 
Cleveland city bonds . 
Louisville city bonds . 
Kansas city bonds 
New Britain city bonds 
Chicago water loan 
Springfield city bonds 
Elizabeth city bonds . 
Grand Rapids city bonds 
Hartford city bonds . 
Peoria city bonds 
Beardstown city bonds 
New Boston city bonds 
Cleveland city bonds . 
Jersey City city bonds 
Newark city bonds 
Buffalo water bonds . 
Des Moines city bonds 
Fort Wayne city bonds 
Indianapolis city bonds 
Quincy city bonds 
Milwaukee city bonds 
Cincinnati city bonds 
New York city bonds 
Hartford city bonds . 
Logansport city bonds 
St. Paul city bonds 
Edgar county bonds . 
Warren county bonds 
Marion county bonds . 
Munroe county bonds 
Macon county bonds . 
Ford county bonds 
Adams county bonds . 
Christian county bonds 
Cook county bonds 
Sangamon county bonds 
Green county bonds . 
Kankakee county bonds 
Macoupin county bonds 
Sangamon county bonds 
White county bonds . 
Gallatin county bonds 
Moultrie county bonds 
Randolph county bonds 
De Witt county bonds 
Wabash county bonds 
5 



Cost value. 

$120,000 00 

395,285 00 

. 215,230 00 

89,750 00 

90,500 00 

130,689 00 

50,000 00 

82,405 00 

128,580 00 

20,581 83 

18,710 00 

100,200 00 

2,980 00 

9,750 00 

52,390 00 

122,900 00 

172,015 00 

99,750 00 

40,000 00 

40,305 00 

487,570 00 

37,504 00 

97,500 00 

100,000 00 

104,000 00 

4,151 75 

61,200 00 

52,350 00 

53,600 00 

930 00 

99,500 00 

35,000 00 

46,475 00 

58,000 00 

37,937 50 

18,800 00 

22,750 00 

39,250 00 

18,200 00 

24,687 50 

43,400 00 

46,000 00 

10,860 00 

10,400 00 

45,240 00 

51,330 00 

30,850 00 

26,100 00 



Market value. 

$75,000 00 

448,080 00 

236,720 00 

106,000 00 

105,000 00 

143,000 00 

54,000 00 

68,800 00 

86,400 00 

25,000 00 

19,760 00 

111,300 00 

4,500 00 

9,750 00 

57,200 00 

136,500 00 

193,140 00 

112,000 00 

44,000 00 

51,000 00 

522,800 00 

45,000 00 

110,000 00 

107,000 00 

117,000 00 

4,160 00 

61,200 00 

62,400 00 

53,600 00 

930 00 

105,000 00 

35,000 00 

46,475 00 

58,000 00 

45,000 00 

18,800 00 

26,750 00 

42,400 00 

18,200 00 

24,687 50 

12,900 00 

53,000 00 

10,860 00 

10,400 00 

45,240 00 

51,330 00 

30,850 00 

26,100 00 



34 



LIFE INSURANCE COMPANIES. [Dec. 31. 



Hudson (X.J.") county bonds 
Iroquois county bonds 
Ramsey county bonds 
Marion county bonds . 
Paris town bonds 
Georgetown town bonds 
Xewmau town bonds . 
Camargo town bonds . 
Garrett town bonds . 
Elwood town bonds . 
Brooklyn town bonds 
Mount Pulaski town bonds 
Grant town bonds 
Penn town bonds 
Moline town bonds 
Edge wood town bonds 
West Hartford town bonds 
Rock Island town bonds 
Lenox town bonds 
Danbury town bonds . 
Astoria town bonds . 
Woodland town bonds 
Browning town bonds 
Bushnell town bonds . 
Ricks town bonds 
Mattoon town bonds . 
Winchester town bonds 
Galva town bonds 
Keithsburg town bonds 
De Witt town bond- . 
Ross town bonds 
Aurora town bonds . 
Evans town bonds 
East Windsor town bonds 
Urban a town bonds . 
Sprague town bonds . 
Brooklyn city bonds . 
Province Quebec bonds 



Cost value. 

49,221 50 

32.000 00 
_ - I 00 
12,000 00 
30.000 00 
ll.TdO 00 
14,625 00 
12.075 00 

32.000 00 
47.750 00 
30,ooo 
20,463 22 
18,525 00 
19,71 

12. 

41.125 00 
8,400 00 

18,050 00 
1,500 o.» 
1,500 00 
4,500 00 

21. 
- 

20,250 00 
l.ooo 00 

14,700 00 

7(i 
8,8 

2,895 00 
29,700 00 
8,ooo 
•lo. 
807,500 00 

25.1 . 



ket v&loc 

• 00 
51,450 00 
31,240 00 

I 00 
12.000 00 
30,000 00 
11,700 00 
14,625 00 
12,075 00 
00 
47,750 00 
30,000 00 
20,4* -_ 
00 

I 00 
00 
12,000 00 
41.._" 

•0 00 
19,000 00 

00 

'0 00 

21,875 00 

•0 00 
14,700 00 

50 00 

00 

81,S 

10 00 
40,1 

00 

1-7 50 



14,910 62|8 



1879.] 



OF OTHER STATES. 



35 



CONNECTICUT GENERAL LIFE INSURANCE COMPANY OF 

HARTFORD, CONN. 

[Incorporated June, 1865. Commenced business October, 1865.] 

Paid-up Capital, $250,000. 

Thomas W. Russell, President. Secretary, Frederick V. Hudson. 

Income. 

Total premium income . $ 159,325 24 

Cash received for interest on stocks, bonds, and loans . 66,009 29 

Cash received for interest on other debts due the company, 3,631 50 



Total income 
Net or ledger assets Dec. 31, 1878 



$228,966 03 
1,341,459 22 



Total $1,570,425 25 



Disbursements. 
Cash paid for losses ....... 

Cash paid for matured endowments .... 

Gross amount paid for losses and endowments 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash dividends paid policy-holders .... 
Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for dividends to stockholders . . 

for commissions to agents ... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for advertising and incidentals . 

for legal expenses ..... 
Profit and loss account 

Total disbursements ...... 



Balance 



$78,367 40 
37,846 00 



$116,213 40 
29,875 42 

3,859 48 
2,346 42 
2,909 75 

$155,204 47 

15,000 00 

7,917 46 

12,919 97 

1,173 65 

14,332 02 

5,196 45 

4,888 74 

2,133 76 

2,243 72 

$221,010 24 

$1,349,415 01 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate . $318,816 02 

Loans on mortgage of real estate (first liens) . : . 522,146 34 
Loans on collateral security (schedule A) . . . . 5,790 00 



36 



LIFE INSURANCE COMPANIES [Dec. 31, 



Premium notes or loans on policies in force 

Cost value of stocks and bonds owned (schedule B) 

Cash in company's office 

Cash deposited in bank 

Bills receivable . 

Agents' ledger balances 

Non-resident tax 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 



Total net or ledger assets . 

Other Assets. 

Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force . 
Deferred premiums on policies in force 

JLOLai ...«••• 
Deduct loading (20 per cent) 
Net am't of uncollected and deferred prems. 

Total assets per company's books 

Items not Admitted. 

Agents' balances 

Bills receivable . . . 

Total ....... 

Total admitted assets .... 



• • 


. $117,845 46 

. 326,775 57 

191 87 

55,447 76 

1,761 32 

236 57 

404 10 


. 


. $1,319,415 01 
39,736 02 


. $1,309,678 99 

22,852 88 
2,435 68 
$6,718 32 
14,455 18 


$21,173 50 
4,234 69 

1« OQQ Q1 




J.V,l/UW <_>.». 


$236 
1,761 


. $1,351,906 36 

57 
32 

1 007 80 






• 


. $1,349,908 47 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks 



,007,460 00 
6,214 00 



Net re-insurance reserve $1,001,246 00 

Death losses and matured endowments in process of adjust- 
ment 20,450 00 

Premiums paid in advance . . ... . . 6,982 00 



Liabilities as to policy-holders 
Surplus as regards Tontine policy-holders . 
Surplus as regards other policy-holders 

Gross surplus as regards policy-holders, 

Gross liabilities 



. $1,028,678 00 



1,234 78 

287,995 69 



321,230 47 



,349,908 47 



1879.] 



OF OTHER STATES. 



37 



Premium Note Account. 



Premium notes on hand Dec. 31, 1878 
Premium notes received during 1879 . 

Total ....... 

Used in payment of surrendered policies, 
and voided by lapse .... 

Used in payment of dividends to policy- 
holders ....... 

Redeemed by maker in cash 

Total ....... 

Balance note assets Dec. 31, 1879 



$126,600 90 
14,949 32 



$3,859 48 

2,909 75 
16,935 53 



$141,550 22 



23,704 76 



$117,845 46 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 



Whole-life policies 
Endowment policies 
All other policies 



Number. 


Amount. 


2,873 


$4,917,656 00 


457 


451,384 00 


52 


84,569 00 



New Policies issued in 1879. 

Whole-life policies 

Endowment policies . . 

All other policies ...... 

Whole-life policies revived during the year 

Total number and amount .... 



563 
11 
13 
10 


717,225 00 
13,926 00 
27,950 00 
18,500 00 


3,979 


$6,231,210 00 



Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity . 

by surrender . 

by lapse . 

by change and decrease 
Not taken ..... 

Total terminated 





22 


$59,226 00 




21 


37,244 00 




69 


147,853 00 




324 


479,385 00 




- 


24,152 00 




126 
562 


146,600 00 


* • 


$894,460 00 



Policies in Force Dec. SI, 1879. 



Whole-life policies 
Endowment policies 
All other policies 



2,940 
429 

48 



$4,861,666 00 

401,065 00 

74,019 00 



Totals 



3,417 $5,336,750 00 



38 



LIFE INSURANCE COMPANIES [Dec. 31, 



Schedule A. 



39 shares X. Y., X. H., and Hartford R.R. 

70 " Washburn Steel Tire Company . 
25 " Connecticut Fire Insurance Co. . 



Securities held as Collateral. 

Market value. Amount loaned. 

16,006 00 J,790 00 

3,500 00) 

3,000 00 ) 



3,000 00 



812,506 00 $5,790 00 



Schedule B. 
Stocks and Bonds owned by the 



United States bonds . 

Connecticut state bonds 

Cook county (111.) bonds 

Tipton county (Ind.) bonds 

Chicago city bonds . 

Quincy city bonds 

Washington city bonds 

Evansville city bonds 

Indianapolis city bonds 

Indianapolis and Cincinnati Railroad b'ds, 

Lake Shore and Mich. Southern R.R. b'ds, 

125 shares N. Y., X. H., and Hartford R.B 



16 
40 
40 

216 

104 
52 
70 

100 
9 

17 
86 
50 

100 



Shoe and Leather Xat*l Bank 
Merchants' Exch. Xat'l Bank 
Fourth Xational Bank 
American Xational Bank . 
Phcenix Xational Bank 
Charter Oak Xational Bank 
Hartford Xational Bank . 
First Xational Bank . 
JEtna Xational Bank 
Farmers' and Mechs'. Xat'l Bank 
Conn. Trust and Safe Dep. Co 
Security Company 
Thames Xational Bank 



Company. 
Cost value. 

1.129 16 

30,246 50 
4,750 00 

13,016 25 
1,950 00 

12,515 00 
9.775 00 

14,425 00 

24,500 00 

9,610 00 

-9 38 

16,793 03 
•J. (i75 00 
2.750 00 
4,193 00 

13,538 00 

15,853 00 
6,700 00 

10,625 00 

13, 

1,116 00 
3,270 00 
8,428 00 
1,750 00 

13.700 00 



Market value. 

.900 00 

31,860 00 

5,000 00 

13,016 25 

2,100 00 

14,400 00 

10,000 00 

15,150 00 

25,000 00 

10,710 00 

6,490 00 

19.250 00 

1,952 00 

1,560 00 

1,820 00 

13,176 00 

15,392 00 

to 00 
10,640 00 
10,800 00 
L,08< 

10 00 

65 00 

5,450 00 

13,500 00 



832(5,775 57 $329,211 25 



1879.] 



OF OTHER STATES. 



39 



CONNECTICUT MUTUAL LIFE INSURANCE COMPANY OF 

HARTFORD, CONN. 

[Incorporated June 15, 1846. Commenced business Dec. 15, 1846.] 

Jacob L. Greene, President. Secretary, John M. Taylor. 



• Income. 

Total premium income $5,750,441 67 

Cash received for interest on stocks, bonds, and loans . 2,990,139 73 
for interest on other debts due the company, 28,597 29 

for rents of company's property . . . 185,111 97 



Total income 
Net or ledger assets Dec. 31, 1878 



Total 



. $8,954,290 66 
. 46,225,182 44 

$55,179,473 10 



Disbursements. 

Cash paid for losses . 

Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
•Cash surrender values, including reconverted additions 

applied in payment of premiums .... 
Cash dividends paid policy-holders, $35,082.61; applied in 

payment of premiums, $1,646,535.68 
Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for advertising ...... 

for incidentals ...... 

Profit and loss and real estate expenses 

Total disbursements . . . 



$2,711,004 15 

63,379 97 

917,271 49 

53,609 93 

$3,745,265 54 
210,386 27 

259,484 93 

1,036,584 68 

1,681,618 29 
203,646 68 

$7,136,986 39 

308,145 59 

10,105 58 

12,544 25 

97,574 29 

340,533 89 

39,296 97 

• 54,021 57 

64,020 20 

$8,063,228 73 



Balance 



$47,116,244 37 



40 



LIFE INSURANCE COMPANIES [Dec. 31, 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate .... 

Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash deposited in bank .... 

Bills receivable ...... 

Agents' ledger balances .... 

Ledger assets (as per balance) 



$11,089,472 47 

22,217.403 37 

27,953 28 

4,109,717 91 

8,184,676 14 

1,418,332 03 

15.806 46 

52,882 71 

•Si7.H0. 244 37 



Other Assets. 
Interest due and accrued .... 
Rents due and accrued .... 
Market value of stocks and bonds over cost 
Deferred premiums on policies in force 
Deduct loading (25 per cent) 



853,119 58 
13,279 90 



1,453,488 52 

16,779 05 
165,982 S6 



39,839 68 



Total assets per company's books and statement . 848,792,334 48 

Items not Admitted. 

Agents' balances $52,882 71 

Bills receivable 15,806 46 

Depreciation from cost of real estate per 

appraisal* 1,576,727 28 

Total 1,645,416 45 



Total admitted assets 



S47. 146.918 03 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent . . . 844,087,711 00 
Death losses and endowments due and un- 
paid • $41,587 00 

Death losses and matured endowments in 

process of adjustment .... 675,736 00 

Total policy claims .... 717.323 00 



* This deduction for depreciation from the cost value of real estate owned by the com- 
pany is the result of examinations and appraisals made by Commissioners Stedman of Con- 
necticut and Row of Michigan, assisted by experts appointed from or approved by the 
departments of Illinois and Missouri. The company claims that so large a deduction, if 
any at all, was unnecessary: that, from the date of the appraisals to this time (June 1), its 
property, especially in the Western States, has appreciably improved, and that there will be 
no loss upon these investments. While it is sincerely hoped that these expectations may be 
fully realized, yet there seems no justification on that account for disregarding the conclu- 
sions of competent and unobjectionable appraisers as to the value of the property at date of 
statement. 



1879.] 



OF OTHER STATES. 



41 



Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 
Reserve on lapsed policies . 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities . 



. $119,343 44 
224,795 63 
222,095 99 

$45,371,269 06 
. 1,775,648 97 

$47,146,918 03 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $4,720,535 17 

Premium notes received during 1879 . . 102,700 75 

Total 

Used in payment of losses and claims . $116,989 90 

Used in payment of surrendered policies, 

and voided by lapse .... 339,826 93 

Used in payment of dividends to policy- 
holders 203,646 68 

Redeemed by maker in cash . . . 53,054 50 

Total ....... 



:,823,235 92 



Balance note assets Dec. 31, 1879 . . . . I 

Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1878. 



Whole-life policies 
Endowment policies 
All other policies 



713,518 01 
:,109,717 91 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 
All other policies 



Old Policies revived during the Year. 



Whole-life policies 
Endowment policies . 

Total number and amount . 



Number. 


Amount. 


57,396 $154,580,675 00 


7,580 


15,716,489 00 


3 


22,000 00 


3,742 


7,019,026 00 


357 


608,093 00 


4 


11,000 00 


Year. 
922 


2,756,300 00 


129 


312,775 00 



70,133 $181,026,358 00 



Policies ceased to be in Force during the Year. 
Terminated by death 951 



by maturity . 

by expiry 

by surrender . 

by lapse .... 

by change and decrease . 



Not taken . 



Total terminated 
6 



427 

6 

2,546 

1,471 

228 



^2,592,136 00 

969,176 00 

19,000 00 

7,670,980 00 

4,104',293 00 

536,950 00 

548,700 00 



5,629 $16,441,235 00 



42 



LIFE INSURANCE COMPANIES [Dec. 31, 



Whole-life policies 
Endowment policies 
All other policies 

Totals 



Policies in Force Dec. SI, 1879. 

Number. Amount. 

57,362 $150,147,440 00 

7,141 14,423,683 00 

1 14,000 00 



64,504 $164,585,123 00 



Schedule A. 
Securities held as Collateral. 

Market value. 

$520 63 ") 



Amount loaned. 



United States bonds . 

St. Louis city bonds . 

Ohio Canal stock 

50 shares Little Miami Railroad 

Pettis county (Mo.) bonds . 

United States bond . 

Mortgage bond (property in Louisville) 

100 shares zEtna Fire Insurance Company 

Mortgage bond (property in Germantown) 

14 shares N". York, N. Haven, and Hart. R.R 

Schedule B, 
Stocks and Bonds owned by 

United States bonds . 

Connecticut state bonds 

Tennessee state bonds 

Toledo city bonds 

Fort Wayne city bonds 

Jackson city bonds . 

Evansville city bonds 

Louisville city bonds . 

Quincy city bonds 

Milwaukee city bonds 

Kansas city bonds 

Mobile city bonds 

Cleveland city bonds . 

St. Louis Chamber of Commerce bonds 

New York city bonds 

130 shares First National Bank 

100 

25 
118 

10 

10 
160 
300 
210 

50 



2,040 00 I 
5,000 00 | 
2,500 00 J 
3,000 00 
1,000 00 
5,000 00 
23,000 00 
500 00 
2,184 00 



$9,803 28 

2,250 00 
1,000 00 
3,000 00 
10,000 00 
400 00 
1,500 00 



$44,744 63 $27,953 28 



City National Bank 

iEtna National Bank 

Phoenix National Bank 

Charter Oak National Ban 

State Bank 

Fourth National Bank 

Conn. Trust and Safe Dep. Co 

N. Y., N. Haven, and Hart. R.R 

Connecticut River Railroad 



the Company. 
Cost value. 

$4,620,683 14 

600,000 00 

19,900 00 

61,200 00 

75,000 00 

99,000 00 

266,050 00 

275,000 00 

208,700 00 

625,000 00 

182,500 00 

78,200 00 

81,810 00 

500,000 00 

374,000 00 

13,000 00 

10,725 00 

2,500 00 

17,078 00 

1,055 00 

1,275 00 

16,000 00 

30,000 00 

21,000 00 

5,000 00 



Market value. 

$4,727,500 00 

660,000 00 

8,060 00 

61,200 00 

75,000 00 

99,000 00 

266,050 00 

275,000 00 

208,700 00 

625,000 00 

182,500 00 

78,200 00 

81,810 00 

500,000 00 

375,500 00 

14,300 00 

8,700 00 

3,125 00 

18,054 00 

1,300 00 

1,100 00 

16,800 00 

24,000 00 

32,760 00 

7,000 00 



$8,184,676 14 $8,350,659 00 



1879.] 



OF OTHER STATES. 



43 



EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED 
STATES, NEW YORK, N.Y. 

[Incorporated July 26, 1859. Commenced business July 28, 1859.] 

Paid-up Capital, $100,000. 

Henry B. Hyde, President. Secretary, Samuel Borrowe. 



Note by the Company. — " Wherever the term ' cash ' is used in this statement, it means 
money in hand, or its equivalent in the company's money obligations." 



Income. 

Total premium income . . . . . . . $6,396,400 15 

Cash received for interest on stocks, bonds, and loans . 1,304,141 75 
for interest on other debts due the company, 311,608 65 
for rents of company's property . . . 334,930 30 



Total income 
Net or ledger assets Dec. 31, 1878 



Total 



. $8,347,080 85 
. 34,195,368 53 

$42,542,449 38 



Disbursements. 

Cash paid for losses and additions 

Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

paid for surrendered policies '. 

dividends paid policy-holders .... 

Total paid policy-holders 

Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for advertising ...... 

for incidentals ...... 

for depreciation ...... 

Total disbursements 



$2,248,463 93 
318,738 10 

$2,567,202 03 

9,084 47 

1,002,185 33 

1,410,399 26 

$4,988,871 09 
7,000 00 

372,933 55 
53,179 79 
47,336 78 

254,135 05 
81,266 98 
99,886 11 
28,132 36 
43,791 69 

288,372 57 

296,545.79 

$6,561,451 76 



Balance 



$35,980,997 62 



44 



LIFE INSURANCE COMPANIES [Dec. 31, 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cash value of real estate ..... 
Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 
Cash deposited in bank ..... 
Agents' ledger balances ..... 



Ledger assets (as per balance) 

Other Assets. 

Interest due and accrued . 

Rents due and accrued 

Market value of stocks and bonds over cost 

Uncollected premiums on policies in force 

Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$8,204,796 02 

10,475,062 90 

3,673,700 00 

12,185,018 42 

11,277 90 

1,203,916 68 

227,225 70 

$35,980,997 62 



284,434 86 

59,908 10 

348,006 17 



$100,470 00 
593,025 00 

$693,495 00 
138,699 00 



554,796 00 



$37,228,142 75 



Items not Admitted. 



Agents' balances 

Total admitted assets . 



227,225 70 



$37,000,917 05 



Liabilities. 

Computed premium reserve or net present value of all out- 



standing policies (Actuaries' 4 per cent) 
Death losses due and unpaid . . . $58,770 00 
Matured endowments due and unpaid . 3,831 00 

Death losses and matured endowments in 

process of adjustment .... 313,730 00 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders . 
Liability under three months' clause in policies . 

Liabilities as to policy-holders 
Surplus as regards Tontine policy-holders . $3,569,550 00 
Surplus as regards other policy-holders . 1,614,920 05 



$31,261,584 00 



376,331 00 

72,249 00 

106,283 00 

$31,816,447 00 



Gross surplus as regards policy-holders, 
Gross liabilities ..... 



5,184,470 05 
$37,000,917 05 



1879.] 



OF OTHER STATES. 



45 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. . 

Number. Amount. 

Whole-life policies 39,751 $133,811,909 00 

Endowment policies 6,152 18,382,275 00 

All other policies 480 1,363,680 00 

Reversionary additions . . . . - 4,179,492 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 
All other policies 



Old Policies revived during the Year 

Whole-life policies 

Endowment policies 

All other policies 

Additions by dividends .... 



6,070 


19,674,010 00 


453 


1,620,865 00 


219 


703,335 00 


fear. 
641 


2,655,780 00 


93 


280,500 00 


7 


34,500 00 


- 


1,533,551 00 



Total number and amount 



53,866 $184,239,897 00 



Policies ceased to be in Force during the Year. 

Terminated by death . 

by maturity 

by expiry 

by surrender . 

by lapse . 

by change and decrease 
Not taken 



547 


$1,962,810 00 


109 


252,450 00 


15 


47,500 00 


1,758 


6,734,445 00 


2,407 


8,050,875 00 


- 


1,511,842 00 


982 


3,322,260 00 



Total terminated 



5,818 $21,882,182 00 



Policies in Force Dec. SI, 1879. 

Whole-life policies 41,575 $138,562,294 00 

Endowment policies 5,962 18,119,105 00 

All other policies ' . 511 1,475,115 00 

Reversionary additions ..... - 4,201,201 00 



Totals 



48,048 $162,357,715 00 



Schedule A. 

Securities held as Collateral. 

Market value. Amount loaned. 

United States bonds $3,657,791 12 $3,491,700 00 

Brooklyn city bonds 9,600 00 7,000 00 

2,600 shares Mercantile Safe Deposit Co. . 390,000 00 175,000 00 



,057,391 12 $3,673,700 00 



46 



LIFE INSURANCE COMPANIES [Dec. 31, 



Schedule B. 

Stocks and Bonds owned by the Company. 



United States- bonds . 
New York city bonds 
Brooklyn city bonds . 
Rochester city bonds . 
Sharon city bonds 
Yonkers city bonds . 
Little Valley town bonds 
Virginia state stock . 
Newark city bonds 
Jersey city bonds 
Hoboken city bonds . 
Cleveland city bonds . 
Seneca town bonds 
Columbus (O.) bonds 
Louisville (Ky.) bonds 
Dayton (O.) bonds 
St. Louis (Mo.) city bonds 
St. Louis (Mo.) county bonds 
Mercantile Trust Company stock 



Cost value. 

$5,488,978 89 

2,634,963 00 

270,996 25 

55,500 00 

11,500 00 

56,562 50 

3,000 00 

14,898 19 

722,445 00 

95,101 00 

208,405 00 

291,533 75 

40,000 00 

8,400 00 

106,000 00 

96,129 00 

582,200 00 

10,775 00 

1,487,630 84 



Market value. 

$5,607,690 00 

2,747,116 00 

309,470 00 

62,500 00 

11,960 00 

60,000 00 

3,192 50 

11,502 59 

743,600 00 

98,000 00 

213,200 00 

307,516 00 

42,500 00 

8,480 00 

110,250 00 

99,735 00 

598,337 50 

10,875 00 

1,487,100 00 



$12,185,018 42 $12,533,024 59 



GERMANIA LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated April 10, 1860. Commenced business July 16, I860.] 
Paid-up Capital, $1200,000. 



Hugo Wesendonck, President. 



Secretary, Cornelius Doremus. 



Income. ' 

Total premium income . . . . . • . 

Cash received for interest on stocks, bonds, and loans 
as discount on claims paid in advance 
for rents of company's property . 
for policy fees ..... 

Total income ....... 

Net or ledger assets Dec. 31, 1878 .... 



$1,177,244 97 

424,460 85 

80 71 

34,361 33 

293 55 

$1,636,441 41 
8,110,495 49 



Total $9,746,936 90 



1879.] 



OF OTHER STATES. 



47 



Disbursements. 

Cash paid for losses and additions . 

Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments . 
Cash paid to annuitants . . . . . . 

paid for surrendered policies .... 

surrender values, including reconverted additions ap 

plied in payment of premiums 
dividends paid policy-holders .... 

Total paid policy-holders 

Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for furniture and office fixtures . 

for advertising ...... 

for incidentals ...... 

Total disbursements ...... 



$523,166 57 
116,541 72 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 
Cash deposited in bank 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 



Total net or ledger assets . 

Other Assets. 

Interest due and accrued . 

Uncollected premiums on policies in force 

Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



U, 184,117 34 

4,372,154 06 

350,000 00 

2,434,123 17 

35,803 36 

52,155 76 

£8,428,353 69 
147,056 51 

^8,281,297 18 



64,250 46 



1,152 13 
216,009 71 

$259,161 84 
51,832 37 



207,329 47 
5,552,877 11 



48 



LIFE INSURANCE COMPANIES [Dec. 31, 



Liabilities. 

Computed premium reserve or net present value of all out- 



standing policies (Actuaries' 4 per cent) 


$7,789,018 00 


Death losses due and unpaid . . . $18,055 55 




Death losses and matured endowments in 




process of adjustment . . . . 75,531 56 




Claims resisted by the company . . 22,595 14 






116,182 25 




Unpaid dividends of surplus due policy-holders 


25,221 91 


Due for salaries, rent, and office expenses .... 


2,950 00 


Extra reserve for lapsed, war, and other policies 


19,367 22 


Liabilities as to policy-holders ..... 


$7,952,739 38 


Surplus as regards Tontine policy-holders . $19,722 84 




Surplus as regards other policy-holders . 580,414 89 




t—Y*r\c*c* mi v»v\l no o c* r+r\rvr\ t*A a r\rvliATT K r\ 1 A /-»■»» rt 


600,137 73 




Gross liabilities . 


$8,552,877 11 


Exhibit of Policies. 




Policies and Additions in Force Dec. 31, 1878. 




Number. 


Amount. 


Whole-life policies 14,329 $24,681,296 00 


Endowment policies ...... 4,847 


7,045,700 00 


All other policies ...... 177 


461,267 00 


New Policies issued in 1879. 




Whole-life policies 1,058 


1,631,483 00 


Endowment policies ...... 1,265 


1,630,281 00 


All other policies ....... 146 


445,739 00 


Old Policies revived during the Year. 




Whole-life policies ...... 10 


22,000 00 


Endowment policies ...... 2 


3,435 00 


All other policies ...... 1 


2,000 00 


Old Policies increased during the Year. 




Endowment policies ...... 3 


970 00 


Additions by dividends ..... - 


52,549 00 


Total number and amount .... 21,838 $35,979,720 00 


Policies ceased to be in Force during the Year. 




Terminated by death ..... 302 


$555,422 00 


by maturity ..... 76 


121,803 00 


by expiry ...... 1 


1,500 00 


by surrender ..... 809 


1,336,147 00 


by lapse 546 


811,150 00 


by change and decrease ... 4 


12,434 00 


Not taken 204 


386,244 00 


Total terminated 1,942 


$3,224,700 00 



1879.] 



OF OTHER STATES. 



49 



Policies in Force Dec. 31, 1879. 



Whole-life policies 
Endowment policies 
All other policies 

Totals 



Number. Amount. 

14,262 $24,383,861 00 

5,372 7,639,776 00 

262 731,383 00 



19,896 $32,755,020 00 



Schedule A. 
Securities held as Collateral. 



United States bonds . 



Par value. Amount loaned . 

$350,000 00 $350,000 00 



United States bonds . 
Virginia state bonds . 
Mississippi state warrants 
New York city bonds 
New York county bonds 
Brooklyn city bonds . 



Schedule B. 
Stocks and Bonds owned by the Company. 

Par value. Market value. 

$1,607,000 00 $1,688,467 50 



30,000 00 
10,000 00 

488,000 00 
25,000 00 

150,000 00 



5,400 00 
7,500 00 

535,260 00 
27,250 00 

169,500 00 



$2,310,000 00 $2,433,377 50 



HARTFORD LIFE AND ANNUITY INSURANCE COMPANY 
OF HARTFORD, CONN. 

[Incorporated May, 1866. Commenced business April, 1867.] 

Paid-up Capital, $256,400. 

Erastus H. Crosby, President. Secretary, Stephen Ball. 

Income. 

Total premium income $67,188 66 

Cash received for interest on stocks, bonds, and loans . 49,747 51 

for interest on other debts due the company, 450 00 

for rents of company's property . . . 5,157 05 

Total income $122,543 22 

Net or ledger assets Dec. 31, 1878 998,675 78 



Total $1,121,219 00 



Disbursements. 

Cash paid for losses and additions 

Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 



$30,694 00 
7,284 98 

$37,978 98 



50 



LIFE INSURANCE COMPANIES 



Cash paid for surrendered policies .... 
Cash dividends paid policy-holders, $5,909.08; applied in 
payment of premiums, $3,109.65 . . . 

Total paid policy-holders 

Cash paid for dividends to stockholders 

for commissions to agents . 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for rent ....... 

for advertising ...... 

for incidentals . . . . . . 

for decrease of capital .... 
Suspense account 

Total disbursements ...... 



Balance 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) . 

on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule B) 
Cash deposited in bank ..... 
Loans on personal security .... 

Agents' ledger balances ..... 
Fixtures, furniture, and safes .... 
Non-resident tax due from stockholders 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total net or ledger assets .... 

Other Assets. 



Interest due and accrued .... 
Uncollected premiums on policies in force . 
Deferred premiums on policies in force 

Total ....... 

Deduct loading . . . . ! . 
Net am't of uncollected and deferred prems. 

Total assets per company's books 



$12,296 65 
8,342 19 



$20,638 84 
4-, 127 77 



[Dec. 31, 

$8,380 80 

9,018 73 

$55,378 51 

17,976 00 

4,457 09 

8,166 13 

429 00 

6,224 94 

7,638 51 

706 16 

803 75 

5,373 11 

30,523 00 

5,247 29 

$142,923 49 

$978,295 51 



$300,337 84 

561,925 00 

10,054 88 

20,421 00 

51,220 75 

6,269 86 

3,758 81 

12,691 64 

11,470 93 

144 80 

$978,295 51 
5,570 75 

. $972,724 76 



28,501 16 



16,511 07 



,017,736 99 



1879.] OF OTHER STATES. 51 

Items not Admitted. 

Office furniture, etc $11,470 93 

Agents' balances 12,691 64 

Loans on personal security . . . 3,758 81 

Total . . . . . . . — $27,921 38, 



Total admitted assets ... . . . . $989,815 61 



LIABILITIES. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $694,878 00 
Deduct net value of re-insured risks ..... 4,322 00 



Net re-insurance reserve $690,556 00 

Premium obligations in excess of net values of their policies, 383 76 

Death losses due and unpaid . . . $3,000 00 

Death losses and matured endowments in 

process of adjustment .... 6,626 00 

Total policy claims .... 9, 626 00 

Unpaid dividends of surplus due policy-holders . . 910 64 



Liabilities as to policy-holders $701,476 40 

Surplus as regards policy-holders 288,339 21 



Gross liabilities . . $989,815 61 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Whole-life policies 

Endowment policies ..... 
All other policies . . . . 
Reversionary additions . . 



Number. 


Amount. 


1,840 


$2,363,384 00 


109 


101,382 00 


276 


520,750 00 


— 


4,781 00 



New Policies issued in 1879. 



118 


170,103 00 


8 


10,325 00 


115 


72,266 00 



Whole-life policies 
Endowment policies . 
All other policies 



Old Policies increased during the Year. 

Whole-life policies ...... 5 9,000, 00 

All other policies 37 52,500 00 

Additions by dividends - 526 00 



Total number and amount .... 2,508 $3,305,017 00 



52 



LIFE INSURANCE COMPANIES [Dec. 31, 



Policies ceased to be in Force during the Year. 



Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse . 

by change and decrease 

Not taken 



Total terminated 



Policies in Force Dec 



Whole-life policies 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



Number. 

24 

7 

69 
73 
38 
42 
20 



Amount. 

$24,008 00 

7,273 00 

109,750 00 

127,480 00 

61,500 00 

68,464 00 

35,119 00 



273 $433,594 00 



31 1 1879. 

1,786 
101 
318 



$2,262,211 00 

95,688 00 

508,647 00 

4,877 00 

2,235 $2,871,423 00 



Schedule A. 



Securities held as Collateral. 

Market value. 

$400 001 
1,000 00 



Amount loaned. 



Lewis county (Mo.) bonds. 

Real estate mort. bonds on land in Iowa 

40 shares Hartford Steam-Boiler Ins. Co. 

84 " American Publishing Company 

St. Louis and South-Eastern Railway Co. 

New Salem town bonds 

Independent School District bond 



Schedule B. 



2,000 00 
1,260 00 [ 
9,600 00 
500 00 
500 00 J 



815,260 00 



Stocks and Bonds owned by the Company. 

Cost value. 

Jefferson county (111.) bonds . . . $16,000 00 

215 shares First National Bank, Hartford . 29,550 00 

50 " Home Nat'l Bank, W. Meriden, 5,670 75 



Market value. 

$16,000 00 

23,650 00 

6,000 00 



$51,220 75 $45,650 00 



1879.] 



OF OTHER STATES. 



53 



HOME LIFE INSURANCE COMPANY OF BROOKLYN, N.Y. 

[Incorporated April 30, 1860. Commenced business May 1, I860.] 

Paid-up Capital, $125,000. 

George C. Ripley, President. Secretary, Joseph P. Holbrook. 



Income. 
Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

Total income ....... 

Net or ledger assets Dec. 31, 1878 .... 



Total 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

Cash paid for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash dividends paid policy-holders, applied in payment of 

premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent and agency charges 

for advertising ...... 

for incidentals ...... 

Total disbursements 

Balance ........ 



Invested in the following: — 



Assets as per Ledger Accounts. 
Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 



$465,105 60 
283,811 38 

$748,816 98 
4,674,963 70 

$5,423,880 68 



$173,579 89 

15,193 11 

126,548 35 

30,128 65 

$345,450 00 

1,167 17 

22,650 33 

86,585 35 

29,947 96 
76,182 22 

$561,983 03 

15,000 00 

39,167 58 

26,064 08 

2,364 00 

25,342 79 

3,885 62 

8,180 11 

2,783 00 

10,812 27 

$695,582 48 

4,728,298 20 



$282,407 62 

.1,148,700 00 

572,200 00 



54 



LIFE INSURANCE COMPANIES [Dec. 31, 



Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office and deposited in bank . 
Agents' ledger balances ..... 

Ledger assets (as per balance) 



Other Assets 
Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 



Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$814,338 43 

1,853,888 72 

45,134 04 

11,629 39 

$4,728,298 20 



17,807 27 
31,971 28 



$57,521 67 
20,740 17 

$78,261 84 
15,652 36 



62,609 48 
. $4,840,686 23 



Items not Admitted. 
Agents' balances ....... 

Total admitted assets ...... 

Liabilities. 
Computed premium reserve or net present value of all out- 



11,629 39 

. $4,829,056 84 



standing policies (Actuaries' 4 per cent) 
Matured endowments due and unpaid . $1,000 00 

Death losses and matured endowments in 

process of adjustment .... 7,322 00 

Claims resisted by the company . . . 12,000 00 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders . 

Liabilities as to policy-holders . . 
Surplus as regards policy-holders .... 



. $3,692,555 00 



Gross liabilities 



20,322 00 
15,272 23 

. $3,728,149 23 
. 1,100,907 61 

. $4,829,056 84 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $883,449 46 

Premium notes received during 1879 . . 138,978 30 

Total $1,022,427 76 

Used in payment of losses and claims . $45,321 76 
Used in payment of surrendered policies, 

and voided by lapse .... 86,585 35 
Used in payment of dividends to policy- 
holders 76,182 22 

Total 208,089 33 

Balance note assets Dec. 31, 1879 .... $814,338 43 



1879.] 



OF OTHER STATES. 



55 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1878. . 

Number. Amount. 

Whole-life policies 6,659 $13,180,178 00 

Endowment policies . . 1,188 2,118,833 00, 

All other policies . . . . . . 11 4,000 00 

Reversionary additions . . . . - 5,652 00 



New Policies issued in 1879. 

Whole-life policies ...... 

Endowment policies ...... 

Whole-life policies revived during the year 



Old Policies increased during the Year. 
Additions by dividends . . . , . 



604 


1,052,625 00 


105 


149,732 00 


12 


27,000 00 



Total number and amount . 



1,877 00 



8,579 116,539,897 00 



Policies ceased to be in Force during the Year. 



Terminated by death . 
by maturity 



by surrender . 

by lapse . 

by change and decrease 



Not taken . 

Total terminated 



82 

75 

673 

195 

130 



Policies in Force Dec. 31, 1879 



Whole-life policies 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



$188,773 00 
156,677 00 

1,339,684 00 

316,000 00 

18,500 00 

211,800 00 



1,155 


$2,231,434 00 


79. 
6,310 


$12,400,160 00 


1,103 


1,896,774 00 


11 


4,000 00 


- 


7,529 00 



7,424 $14,308,463 00 



25 shares Nassau National Bank 

50 " Home Fire Insurance Company 

100 " Union Trust Company 

100 " Manufacturers' National Bank 

125 " Mechanics' Bank 
20 " Nassau National Bank 
10 " Bowery National Bank 

Prospect Park bond .... 

150 shares Central Trust Company . 



Schedule A. 

Securities held as Collateral. 

Market value. 

$3,750 00 
6,000 00 

14,000 00 
3,000 00 
8,750 00 
3,000 00 
1,150 00 
1,180 00 

17,250 00 



Amount loaned. 

$2,000 00 
5,000 00 
6,000 00 
2,000 00 
•6,000 00 
1,500 00 
1,000 00 
1,000 00 
12,500 00 



56 



LIFE INSURANCE COMPANIES [Dec. 31, 



350 shares Metropolitan National Bank 
Prospect Park bonds .... 
21 shares New York Gas Company 
1,284 " Brooklyn City Gas Company 
50 " German American Ins. Co. 
145 " Nassau National Bank . 
903 " Central National Bank . 
285 " Fourth National Bank . 
40 " Mechanics' National Bank 
15 " Nassau National Bank . 
20 " Atlantic State Bank 
40 " Atlantic Fire Insurance Co. 
20 " Mechanics' Fire Insurance Co 

13 " Montauk Fire Insurance Co. 

14 " Nassau Fire Insurance Co. 

12 " Nat'l Shoe and Leather Bank 
10 " Metropolitan Gas-Light Co. 
60 " Brooklyn Gas-Light Company 
50 " Union Trust Company . 

Erie Railroad bonds .... 

United States bonds .... 

150 shares Bank of Commerce . 

200 " Central Trust Company . 
31 " New York Life and Trust Co. 

B. F. and C. I. Railroad bonds . 

Queens county bond .... 

United States bonds .... 

Albany and Susquehanna mortgage bond 

United States bonds, 4s 

United States bonds .... 



Market value. 

$42,525 00 
5,900 00 
1,763 00 
38,520 00 j 
6,250 00 [• 
21,750 00) 
90,300 00 > 
29,070 00 f 
2,800 00 
2,250 00 
1,900 00 
1,600 00 
1,300 00 
715 00 
1,190 00 
1,416 00 
1,100 00 j 
1,800 00 C 
7,000 00) 
125,820 00 I 
2,0S0 00 > 
19,500 00^ 
28,750 00 C 
8,370 00) 
2,000 00 I 
500 00 ) 
105,620 00 \ 
4,750 00 C 
20,800 00) 
74,986 00 



Amount loaned. 

$31,500 00 
5,000 00 
1,800 00 

50,000 00 



100,000 00 



8,500 00 

1,200 00 
6,000 00 

100,000 00 
50,000 00 

2,200 00 

107,000 00 

72,000 00 
$710,405 00 $572,200 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds $1,144,491 22 

Brooklyn city bonds 509,697 50 

New York city bonds . . . . 53,662 50 

Kings county bonds 146,037 50 



Market value. 

$996,580 00 

671,280 00 

54,000 00 

164,000 00 



.,853,888 72 $1,885,860 00 



1879.] 



OF OTHER STATES. 



57 



HOMCEOPATHIC MUTUAL LIFE INSURANCE COMPANY OF 

NEW YORK, N.Y. 

[Incorporated July 18, 1868. Commenced business July 18, 1868.] 

Paid-up Capital, $100,000. 

Edwin M. Kellogg, President. Secretary, Frank B. Mahew. 



Income. 

Total premium income ....... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company, 
for rents of company's property . 

Total income . . . . . 
Net or ledger assets Dec. 31, 1878 



$133,436 55 

34,202 84 

1,207 08 

1,487 45 



$170,333 92 
658,626 58 



Total $828,960 50 



Disbursements. 

Cash paid for losses and additions .... 
Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Cash paid for surrendered policies .... 
Cash surrender values, including reconverted additions 

applied in payment of premiums .... 
Cash dividends paid policy-holders .... 

Total paid policy-holders . . . ... 

Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for advertising and incidentals . 

for reduction of values .... 

Total disbursements 



Balance 



$32,980 00 
22,509 00 

$55,489 00 
67,984 80 

36,344 00 
280 09 

$160,097 89 

4,947 48 

6,717 67 

378 00 

8,902 48 

1,341 36 

2,000 00 

1,390 04 

10,237 55 

26,523 70 

$222,536 17 
$606,424 33 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) 
8 



$47,330 00 

243,850 83 



58 



LIFE INSURANCE COMPANIES [Dec. 31, 



Loans on collateral security (schedule A) . 
Loans on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 

Cash deposited in bank ..... 

Bills receivable ....... 

Agents' ledger balances . . . ... 

Ledger assets (as per balance) 



$9,770 00 

19,209 39 

268,745 32 

292 04 

16,872 60 

165 03 

189 12 

$606,424 33 



Other Assets. 

Interest due and accrued . 

Rents due and accrued 

Market value of stocks and bonds over cost 

Uncollected premiums on policies in force 

Deferred premiums on policies in force 

Total ...... 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$3,738 90 
13,511 05 



$17,249 95 
3,449 99 



5,636 12 

. 25 00 

2,862 68 



13,799 96 



Items not Admitted. 



Agents' balances 
Bills receivable . 

Total .... 

Total admitted assets . 



• 


$628,748 09 


$189 12 




165 03 






354 15 







28,393 94 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks . . . . . 



Net re-insurance reserve 
Death losses and matured endowments in 

process of adjustment 
Claims resisted by the company 

Total policy claims 
Advance premiums .... 
Reserve on lapsed policies . 
Reserve for possible depreciation 
All other liabilities .... 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities .... 



$4,000 00 
5,842 77 



$558,661 00 
9,145 00 

$549,516 00 



9,842 77 
2,101 03 
6,000 00 
7,000 00 
2,000 00 

$576,459 80 
51,934 14 

$628,393 94 



1879.] 



OF OTHER STATES. 



59 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 1,762 $2,871,166 00 

Endowment policies 569 626,827 00 

All other policies 227 448,766 00 



Whole-life policies 
Endowment policies 
All other policies 



New Policies issued in 1879. 



375 

86 
127 



471,885 00 

72,965 00 

241,046 00 



Old Policies revived during the Year. 



Whole-life policies 
Endowment policies . 



4,000 00 
2,018 00 



Total number and amount . 


. 3,150 


$4,738,673 00 


Policies ceased to be in Force during the Year. 




Terminated by death .... 


21 


$24,379 00 


by maturity .... 


10 


22,070 00 


by expiry .... 


50 


128,000 00 


by surrender .... 


366 


567,383 00 


by lapse 


363 


573,416 00 


by change and decrease . 


17 


37,189 00 


Not taken ....... 


62 
889 


96,970 00 


Total terminated .... 


$1,449,407 00 


Policies in Force Dec. SI, 


1879. 




Whole-life policies ...... 


. 1,522 


$2,326,428 00 


Endowment policies ..... 


474 


464,092 00 


All other policies 


265 


498,746 00 



Totals 



2,261 



$3,289,266 00 



Schedule A. 

Securities held as Collateral. 

Market value. Amount loaned. 

33 shares Fifth National Bank . . $3,630 00 $3,300 00 

20 " Farragut Fire Insurance Co. . 1,300 00 650 00 

60 " Hamilton Fire Insurance Co. . 1,350 00) 

100 " Am. Needle and Fish-hook Co. 2,500 00 C 5,820 00 

Life policy assigned 2,933 00 ) 



$11,713 00 $9,770 00 



60 



LIFE INSURANCE COMPANIES [Dec. 31, 



United States bonds . 
New York city bonds 
New York county bonds 
Brooklyn city bonds . 
Somerset town bonds" 
Lewiston town bonds 
Yates town bonds 
Newi'ane town bonds 
Arcadia town bonds 
Rochester city bonds 
Buffalo city bonds 



Schedule B. 

Slocks and Bonds owned by the Company. 

Cost value. 

$152,570 00 

32,780 32 

9,860 00 

41,190 00 

6,500 00 

3,250 00 

4,750 00 

1,000 00 

5,000 00 

10,710 00 

1,135 00 



Market value. 

$153,720 00 

34,153 00 

10,200 00 

41,190 00 

6,500 00 

3,250 00 

4,750 00 

1,000 00 

5,000 00 

10,710 00 

1,135 00 



$268,745 32 $271,608 00 



MANHATTAN LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated 1850. Commenced business Aug. 1, 1850.] 

Paid-up Capital, 8100,000. 

Henry Stokes, President. Secretary, Jacob L. Halsey. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance . 
for rents of company's property . 

Collections from suspense account .... 

Total income ....... 

Net or ledger assets Dec. 31, 1878 

Total 



$993,671 80 

435,480 59 

75,107 86 

6,318 22 

37,234 49 

449 14 

$1,548,268 10 
9,799,106 31 

$11,347,374 41 



Disbursements. 

Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 



$631,692 39 

51,344 61 

103,644 72 

25,291 28 



Gross amount paid for losses and endowments 



1,973 00 



1879.] 



OF OTHER STATES. 



61 



of 



Cash paid to annuitants ...... 

Cash paid for surrendered policies . . 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash dividends paid policy-holders, applied in payment 

premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees 

for rent . . . . . 

for advertising ...... 

for incidentals ...... 

Loss on United States bonds, redeemed 

Cash paid for expense on real estate .... 

Total disbursements . , 



Balance 



$5,708 37 
94,508 91 

90,854 75 

234,825 81 
15,730 95 



$1,253,601 79 

40,000 00 

82,969 32 

15,736 73 

7,776 00 

61,123 77 

8,639 82 

13,250 00 

10,808 45 

18,312 57 

89,930 48 

39,123 80 

$1,641,272 73 

$9,706,101 68 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate . . 

Loans on mortgage of real estate (first liens) . 

Loans on collateral security (schedule A) . 

Premium notes or loans on policies in force 

Cost value of stocks and bonds owned (schedule B) 

Cash in company's office ..... 

Cash deposited in bank . . 

Ledger assets (as per balance) 



$1,250,418 69 
3,836,094 26 
1,696,465 14 
1,588,497 88 
1,296,814 97 
5,363 60 
32,447 14 

£9,706,101 68 



Other Assets. 
Interest due and accrued . 
Rents due and accrued 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

United States stamps 

Total assets per company's books 



$74,013 80 
84,389 27 

$158,403 07 
31,680 61 



174,767 44 

1,560 99 

39,855 22 



- 126,722 46 
148 73 

$10,049,156 52 



62 LIFE INSURANCE COMPANIES [Dec. 31, 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $8,306,120 00 

Death losses due and unpaid . . . $363 89 

Death losses and matured endowments in 

r>rocess of adjustment .... 307,876 00 

Claims resisted by the company . . . 51,500 00 

Total policy claims .... 359,739 89 

Unpaid dividends of surplus due policy-holders . . . 69,496 03 

All other liabilities (estimated) ...... 11,000 00 



Liabilities as to policy-holders $8,746,355 92 

Surplus as regards Tontine policy-holders . $21,274 85 
Surplus as regards other policy-holders . 1,281,525 75 

Gross surplus as regards policy-holders, 1,302,800 60 

Gross liabilities $10,049,156 52 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $1,706,451 71 

Premium notes received during 1879 . . 80,260 44 

Total $1,786,712 15 

Used in payment of losses and claims . 76,635 89 

Used in payment of surrendered policies, 

and voided by lapse .... 90,854 75 

Used in payment of dividends to policy- 
holders 15,730 95 

Redeemed by maker in cash . . . 7,544 03 

Charged agents for collection . . . 7,448 65 

Total . . . . . . 198,214 27 



Balance note assets Dec. 31, 1879 .... $1,588,497 88 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 10,360 $31,514,657 00 

Endowment policies 1,260 2,640,353 00 

Reversionary additions ..... - 108,335 00 



New Policies issued in 1879. 






Whole-life policies ...... 


949 


2,644,091 00 


Endowment policies ...... 


100 


255,879 00 


Additions by dividends ..... 


- 


2,736 00 



Total number and amount .... 12,669 $37,166,051 00 



1879.] 



OF OTHER STATES. 



63 



Policies ceased to be in Force during the Year. 



Terminated by death 

by maturity 

by surrender . 

by lapse . 

by change and decrease 
Not taken 

Total terminated 



Number. 


Amount. 


221 


$683,499 00 


62 


128,474 00 


174 


486,909 00 


430 


1,247,295 00 


188 


653,866 00 


178 


633,390 00 


1,253 


S3, 833,433 00 



Policies in Force Dec. 81, 1879. 

Whole-life policies . ... . . . 10,237 $30,773,698 00 

Endowment policies 1,179 2,453,550 00 

Reversionary additions . . , . . - 105,370 00 



Totals 



11,416 $33,332,618 00 



Schedule A. 

Securities held as Collateral. 



639 shares Butchers' and Drovers' Bank 
750 "' Citizens' Bank . 
113 " Bowery Fire Insurance Co. 
West Chester town bonds . 
390 shares Citizens' Bank 
31 " Eighth Avenue Railroad 
180 " Broadway Bank . 
100 " Third Avenue Railroad . 
100 " Citizens' Bank 
125 " Shoe and Leather Bank . 
100 " People's Bank 

15 " Metropolitan Gas Company 
220 " Brooklyn Gas Company . 
80 " Albany and Susq. Railroad 
10 " N. Y. Guar, and Indem. Co. 
89 " Manhattan Company 
4 " N. Y. Nat'l Exchange Bank 
700 " N. Y. Central and H. R. R.R 
3,000 " Western Union Telegraph Co 
Union Pacific 1st mortgage bonds 
90 shares Bank of the Metropolis 
314 " N. Y. Central and II. R. R R. 
136 " Citizens' Fire Insurance Co. 
United States bonds .... 
100 shares Chicago and Rock Island R.R. 
St. Paul sinking fund bonds . 



Market value. 

$16,214 62) 
19,125 00 ' 
5,678 25 j 
15,000 00 j 
9,915 00 7 
4,650 00 ) 
9,180 00 
14,000 00 ) 
2,550 00 i 
15,250 00 
2,487 50 
1,725 00 
7,150 00 
8,000 00 ) 
1,050 00 j 
6,541 50 
400 00 
91,000 00 
306,000 00 
111,000 00 
9,000 00 
41,320 00 
5., 399 20 
16,173 75 
15,000 00 | 
55,500 00 j 



Amount loaned. 

$48,000 00 

10,000 00 

3,800 00 

12,000 00 

12,000 00 
1,500 00 
1,500 00 
5,500 00 

5,940 14 

5,000 00 

300 00 

57,000 00 

260,000 00 

100,000 00 

8,000 00 

18,000 00 

1,500 00 

15,000 00 

54,425 00 



64 



LIFE INSURANCE COMPANIES [Dec. 31, 



10 shares Metropolitan Gas Company 
20 " Union Trust Company 
40 " Citizens' Bank . 
40 " Lenox Fire Insurance Company 
United States bonds .... 
800 shares N. Y. Central and H. R. R.R. 
100 " Chicago and Rock Island R.R. 
Erie 2d mortgage bonds 
Canada Southern 1st mortgage bonds 
United States bonds .... 
540 shares Western Union Telegraph Co. 
100 " Del. and Hudson Canal Co. 
Houston and Texas Central mort. bonds 
Erie Railroad 2d mortgage bonds 
200 shares Albany and Susq. Railroad 
100 " Rensselaer and Saratoga R.R 
200 " Morris and Essex Railroad 
1,220 " Western Union Telegraph Co 
600 " N. Y. Central and H. R. R.R 
10 " Panama Railroad . 
1,000 " Western Union Telegraph Co 
500 " Erie Railroad 
200 " Atlantic and Pacific Tel. Co. 
100 " Union Pacific Railroad . 
200 " Morris and Essex Railroad 
100 " Erie Railroad 
100 " St. Paul Railroad preferred 
100 " Lake Shore Railroad 
100 " Michigan Central Railroad 
Erie Railroad 2d mortgage bonds 
100 shares N. Y. Central and H. R. R.R. 
200 " Chicago and Alton Railroad 
100 " Wabash and Pacific Railroad 
100 " Delaware and Hudson Canal 
Erie Railroad 2d mortgage bonds 
United States bonds .... 
138 shares New York Elevated Railroad 
100 " Delaware and Hudson Canal 
100 " Western Union Telegraph Co. 
300 " Erie Railroad . 
100 " Manhattan Elevated Railroad 
X. Y. Elevated R.R. 1st mortgage bonds 
80 shares Chicago and No. -Western R.R. 
Lake Erie and Western Railroad bonds 
500 shares Erie Railroad . 
New York Elevated Railroad bonds . 
100 shares Western Union Telegraph Co. 
200 " Delaware and Hudson Canal 



Market value. 

$1,150 001 
2,800 00 I 

1,020 oo y 

900 00 I 
208 00 j 
104,000 00 
15,000 001 



8,712 50 



y 



2,692 50 i 
9,562 50 j 
55,080 00 > 
7,400 00 J 
4,320 001 
17,425 00 j 
20,000 00 I 
11,000 00 I 
10,200 00 j 
124,440 00 
78,000 00 
1,670 00 
102,000 00 > 
21,000 00 > 
8,300 001 
8,400 00 
10,200 00 
4,200 00 
9,900 00 
9,925 00 
8,875 00 
4,356 25 j 
13,000 00 
19,800 00 
6,350 00 
7,400 00 
69,700 00 
2,080 00 J 
17,112 001 
7,400 00 
10,200 00 
15,300 00 
5,300 00 
5,675 00J 
8,360 001 
8,712 50 
21,000 00 
1,135 00 
10,200 00 
14,800 00 



Amount loaned. 

$5,000 00 

75,000 00 
30,000 00 

50,000 00 

50,000 00 

100,000 00 

65,000 00 

1,000 00 

100,000 00 



V 50,000 00 



J- 100,000 00 



y 50,000 oo 



y 50,000 oo 



1879.] 



OF OTHER STATES. 



65 



200 shares New York Elevated Railroad . 
Canada Southern R.R. 1st mortgage bonds, 
100 shares American Express Company 
200 " Erie Railroad . 
100 " Morris and Essex Railroad 
Erie Railroad 2d mortgage bonds 
2,400 shares Western Union Telegraph Co 
8 » N. Y. Central and H. R. R.R 
100 " Rensselaer and Saratoga R.R 

50 " Citizens' Fire Insurance Co. 
200 " Erie Railroad 
200 " New V ork Elevated Railroad, 
100 " Manhattan Elevated Railroad, 
100 " Chicago and North- West. R.l 
Long Dock bond .... 
New York Elevated R.R. 1st mort. bond 
Canada Southern R R. mortgage bond 
100 shares C. M. and St. Paul Railroad 
200 " Delaware and Hudson Canal 
300 " Erie Railroad . . 
Erie Railroad 2d mortgage bonds 
New York Elevated Railroad bonds . 



Market value. Amount loaned. 

$21,800 0(T 

4,487 50 

5,700 00 . | 50 000 00 

8,400 00 | 

5,100 00 I 

13,068 75J 

244,800 00 

1,040 00 
11,000 00 

1,985 00 

8,400 00 
24,800 00 

5,300 00 

8,950 00 [ 

1,125 00 ' 

3,405 00 

8,975 00 

9,900 00 ^ 
14,800 00 I 
12,600 00 [ 

8,712 50 | 
22,700 00 J 



200,000 00 
10,000 00 

1,000 00 



50,000 00 



40,000 00 



$2,145,649 82 11,696,465 14 



Schedule B. 
Stocks and Bonds owned by the Company. 



United States bonds . 
Virginia state bonds . 
Westchester county bonds . 
New York county and city bonds 
Brooklyn city park bonds . 
50 shares Bank of Commerce 



Cost value. 

$701,053 85 

4,500 00 

39,138 56 

447,162 56 

100,500 00 

4,460 00 



Market value. 

$697,666 44 

4,394 75 

38,780 00 

464,004 00 

125,000 00 

6,825 00 



$1,296,814 97 $1,336,670 19 



66 



LIFE INSURANCE COMPANIES [Dec. 31, 



METROPOLITAN LIFE INSURANCE COMPANY OF NEW 

YORK, N.Y. 

[Incorporated January, 1866. Commenced business June, 1867.] 

Paid-up Capital, $100,000. 

Jos. F. Knapp, President. Vice-Pres. and Sec'y, John R. Hegeman. 

Income. 

Total premium income ....... $432,559 82 

Cash received for interest on stocks, bonds, and loans . 81,009 82 

for interest on other debts due the company, ) ^ o±q qa 
as discount on claims paid in advance . . > 

for rent of company's property . . . 31,678 97 

$567,598 51 



Total income 
Net or ledger assets Dec. 31, 1878 
Decrease of capital . 



,856,569 49 
100,000 00 



1,756,569 49 



Total . .$2,324,168 00 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 7 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash dividends paid policy-holders .... 

Total paid policy-holders ..... 

Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for advertising ...... 

for incidentals ...... 

for depreciation ...... 

Total disbursements ...... 

Balance 



$141,831 05 

2,589 63 

55,294 32 

17,883 68 



£17,598 68 
90,612 15 

79,563 41 
2,059 70 



$389,833 94 

29,971 76 

3,089 02 

7.941 64 
23,665 35 

4,152 08 
7,053 71 

4.942 11 
30,476 94 
36,932 45 



$538,059 00 



,786,109 00 



1879.] 



OF OTHER STATES. 



67 



Invested in the following: — 

Assets as per Ledger Accounts 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office 
Cash deposited in bank 
Furniture, etc. .... 
Commuted commissions 

Ledger assets (as per balance) 



Other Assets. 
Interest due and accrued . 
Rents due and accrued 
Market value of real estate over cost . 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 



Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



1331,770 50 

614,400 00 

2,950 00 

293,095 31 

507,000 00 

949 05 

24,383 81 

11,560 33 
1,786,109 00 



9,686 31 
5,333 09 

32,979 50 
59,060 00 



$73,729 27 
93,132 96 

$166,862 23 
33,372 45 



133,489 78 
. $2,026,6o7 68 



Items not Admitted. 



Office furniture, etc. . 
Commuted commissions 



Total admitted assets ...... 

Liabilities. 

Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 
Death losses and matured endowments due and unpaid 
Deferred and unpaid prems. and liens in excess of reserve 
Premiums paid in advance . . 
Special reserve 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities . 



11,560 33 



1,015,097 35 



$1,570,955 00 

61,139 00 

23,472 00 

• 6,465 61 

60,000 00 

$1,722,031 61 

293,065 74 

$2,015,097 35 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $309,329 52 

Premium notes received during 1879 . . 83,802 51 

Total 



,132 03 



68 



LIFE INSURANCE COMPANIES [Dec. 31, 

$20,473 31 



Used in payment of losses and claims 
Used in payment of surrendered policies, 

and voided by lapse . 
Used in payment of dividends to policy- 
holders ....... 

Total 

Balance note assets Dec. 31, 1879 



79,563 41 



$100,036 72 



$293,095 31 



Whole-life policies 
Endowment policies 
All other policies 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

. 9,058 $13,327,567 00 
903 526,704 00 



New Policies issued 



in 1879. 



Whole-life policies 
Endowment policies . 
All other policies 

Total number and amount . 



55 



48,885 00 



505 


554,627 00 


31 


18,920 00 


47 


47,124 00 



10,599 $14,523,827 00 



Policies ceased to be in Force during the Year. 
Terminated by death 122 $138,298 00 



by maturity 

by surrender . 

by lapse .... 

by change and decrease . 



Not taken . 

Total terminated 



81 

321 

2,261 

103 

31 



79,301 00 

329,307 00 

2,594,942 00 

114,000 00 

41,061 00 



2,919 $3,296,909 00 



Policies in Force Dec. 31, 1879. 

Whole-life policies 6,890 $10,776,908 00 

Endowment policies 733- 394,130 00 

All other policies 57 55,880 00 



Totals 
Industrial policies in force . 



7,680 $11,226,918 00 
5,143 $440,049 00 



Brooklyn park bonds . 



Schedule A. 

Securities held as Collateral. 

Market value. Amount loaned. 

$3,690 00 $2,950 00 



Schedule B. 

Slocks and Bonds owned by the Company. 



United States bonds . 
Brooklyn public park bonds 



Par value. Market value. 

$182,000 00 $196,925 00 
33,000 00 40,590 00 



1879.] 



OF OTHER STATES. 



69 



Brooklyn city bonds . 
Brooklyn bridge bonds 
Brooklyn improvement bonds 
Brooklyn water bonds 
Rochester city bonds . 
Lockport city bonds . 
Peekskill city bonds . 
Jersey city bonds 



Par value. 

£25,000 00 
41,000 00 
1,000 00 
25,000 00 
90,000 00 
40,000 00 
25,000 00 
45,000 00 



Market value. 

$20,875 00 

45,920 00 

1,050 00 

30,750 00 

103,500 00 
44,800 00 
27,500 00 
48,150 00 



$507,000 00 $566,060 00 



MUTUAL LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated April, 1842. Commenced business Feb. 1, 1843.] 

F. S. Winston, President. Secretary, Isaac F. Lloyd. 

Note by the Company. — " Wherever the term ' cash' is used in this statement, it means 
money in hand, or its equivalent in the company's money obligations." 

Income. 

Total premium income $12,687,881 72 

Cash received for interest on stocks, bonds, and loans . 4,716,704 46 
for interest on other debts due the company, 68,877 07 

for rents of company's property . . . 156,630 17 



Total income 
Net or ledger assets Dec. 31, 1878 

Total 



$17,630,093 42 
84,174,076 42 

$101,804,169 84 



Disbursements. 
Cash paid for losses and additions 
Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Cash paid to annuitants 

paid for surrendered policies 
dividends paid policy-holders, applied in payment of 
premiums .... 



Total paid policy-holders . 
Cash paid for commissions to agents . 

for expenses of law department 

for medical examiner's fees 

for salaries of officers and office employes 

for taxes and fees 

for rent .... 

for contingent guaranty account 



$4,124,838 84 
1,869,161 05 

$5,993,999 89 

25,080 78 

4,568,995 81 

3,427,479 00 



$14,015,555 48 

668,942 74 

59,108 26 

90,953 23 

238,369 16 

350,324 26 

6,000 00 

302,908 08 



70 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash paid for advertising ...... 

Cash paid for incidentals . . . . . 

Total disbursements ...... 

Balance . 

Invested in the following : — 

Assets as per Ledger Accounts. 
Present value of real estate .... 
Loans on mortgage of real estate (first liens) . 
Loans on collateral security (schedule A) . 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office and deposited in bank 
Agents' ledger balances ..... 

Ledger assets (as per balance) . 



$32,085 12 
274,407 83 

116,038,654 16 



$85,765,515 68 



. $7,811,805 18 
. 54,895,134 77 
. 2,100,000 00 
. 18,526,880 38 
. 2,363,337 28 
68,358 07 



,765,515 68 



Other Assets. 
Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$99,974 35 
809,705 97 



$909,680 32 
181,936 06 



1,397,061 07 
390,737 74 



727,744 26 



,281,058 75 



Items not Admitted. 



Agents' balances 

Total admitted assets . 



68,358 07 



$88,212,700 68 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . $81,528,911 00 
Death losses due and unpaid . . . $98,214 00 
Death losses in process of adjustment 
Claims resisted by the company 

Total policy claims . . . 720,879 00 

Premiums paid in advance ...... 103,592 64 



521,681 00 
100,984 00 



Liabilities as to policy-holders 
Surplus as regards Tontine policy-holders 
Surplus as regards other policy-holders 

Gross surplus as regards policy-holders, 

Gross liabilities 



$82,353,382 64 



$140,000 00 
5,719,318 04 



5,859,318 04 



$88,212,700 m 



1879.] 



OF OTHER STATES. 



71 



Exhibit of Policies. 
Policies and Additions in Force Dec. 81, 1878. 

Number. Amount. 

Whole-life policies 76,172 $227,766,127 00 

Endowment policies 15,542 37,679,348 00 

All other policies . . . . . . 114 128,675 00 

Reversionary additions ..'.'. • • . - 25,200,165 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 
All other policies 



Old Policies revived during the Year 

Whole-life policies . . . . 
Endowment policies ..... 
Additions by dividends .... 



9,837 


26,083,545 00 


1,451 


3,221,915 00 


2 


3,000 00 


Year. 
811 


2,674,490 00 


109 


262,210 00 


- 


6,149,394 00 



Total number and amount . 



. 104,038 $329,168,869 00 



Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity . 

by surrender and lapse 

by change and decrease 
Not taken . . . 

Total terminated 

Policies in Force Dec 

Whole-life policies 
Endowment policies . 
All other policies . . . 
Reversionary additions 

Totals .... 



. . . 1,157 


$4,124,839 00 


716 


1,869,161 00 


. 5,389 


20,336,682 00 


. 


156,850 00 


. 1,353 


3,920,470 00 


. 8,615 


$30,408,002 00 


? Dec. 81, 1879. 




. 80,456 $237,570,112 00 


. 14,861 


35,709,198 00 


. . . 106 


119,075 00 


. 


25,362,482 00 


. " . .• 95,423 1 


1298,760,867 00 



United States bonds . 



Schedule A. 

Securities held as Collateral. 

Market value. Amount loaned. 

. $2,184,000 00 $2,100,000 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. Market value. 

United States bonds $7,283,439 25 $7,462,417 62 

New York city and county bonds . . 4,491,844 77 4,701,468 00 
Brooklyn city bonds 1,521,246 40 1,576,835 00 



72 



LIFE INSURANCE COMPANIES [Dec. 31, 



Newark city bonds . 
Boston city bonds 
Missouri state bonds . 
San Francisco city bonds 
Providence city bonds 
Texas state bonds 
Massachusetts state bonds 
Cherry Valley bonds . 
Yonkers city bonds . 
Buffalo city bonds 
Elmira city bonds 
Union county (N.J.) bonds 
North Plainfield (N.J.) bonds 
New Brunswick (N.J.) bonds 
Middlesex county (N.J.) bonds 
Elizabeth city (N.J.) bonds 
Hudson bonds . 
Essex county bonds . 
Milwaukee city bonds 



Cost value. 

$749,252 00 
1,111,250 00 

055,033 25 

637,528 71 

537,500 00 

525,000 00 

170,025 00 

50,000 00 

128,250 00 

140,500 00 

52,666 25 

99,665 00 

10,000 00 

5,747 50 

5,550 00 

12,000 00 

130,081 00 

9,270 00 

201,031 25 



Market value. 

8723,125 00 

1,112,500 00 

619,805 00 

619,500 00 

537,500 00 

525,000 00 

166,825 00 

50,250 00 

128,590 00 

152,437 50 

54,150 00 

100,930 00 

10,050 00 

5,775 00 

5,525 00 

4,260 00 

124,490 00 

9,310 00 

196,875 00 



$18,526,880 38 $18,917,618 12 



MUTUAL BENEFIT LIFE INSURANCE COMPANY OF NEW- 
ARK, N.J. 

[Incorporated Jan. 31, 1845. Commenced business April, 1845.] 

Lewis C. Grover, President. Secretary, Edward A. Strong. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 
as discount on claims paid in advance 
for rents of company's property . 

Total income ...... 

Net or ledger assets Dec. 31, 1878 

Total ........ 

Disbursements. 
Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 



$3,793,704 07 

1,908,788 78 

4,583 25 

2,881 25 

$5,709,957 35 

32,536,692 35 



,246,649 70 



$1,917,836 96 
125,507 99 
466,258 9S 
116,798 25 

$2,626,402 18 



1879.] 



OF OTHER STATES. 



73 



ed 



Cash paid to annuitants . . 

Cash paid for surrendered policies 

Premium notes or loans used in purchase of surrender 

policies, and voided by lapse .... 
Cash surrender values, including reconverted additions 

applied in payment of premiums . 
Cash dividends paid policy-holders, $143,389.57; applied 

in payment of premiums, $1,191,788.18 
Premium notes or loans used in payment of dividends 

Total paid policy-holders .... 

Cash paid for commissions to agents and expenses 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees .... 
for advertising and incidentals . 
for premiums on bonds purchased 

Profit and loss account ..... 

Total disbursements 

'Balance ....... 

Invested in the following: — 

Assets as per Ledger Accounts 

Cost value of real estate 

Loans on mortgage of real estate (first liens) 
Premium notes or loans on policies in force 
Par value of stocks and bonds owned (schedule A) 
Cash in company's office ..... 
Cash deposited in bank ..... 
Agents' ledger balances ..... 



Ledger assets (as per balance) 

Other Assets 
Interest due and accrued .... 
Market value of stocks and bonds over par 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$5,190 71 
380,327 95 

187,227 83 

241,535 21 

1,335,177 75 
82,095 46 

$4,843,957 09 
278,084 82 
24,927 28 
86,884 10 
56,482 55 
105,025 33 
37,631 13 
29,349 70 

$5,462,342 00 

$32,784,307 70 



$2,294,135 25 

8,706,233 84 

4,398,843 89 

16,573,527 83 

12,829 18 

769,872 90 

28,864 81 

$32,784,307 70 



803,994 26 
1,507,365 54 



$82,817 32 
133,141 85 

1215,959 17 
43,191 83 



- 172,767 34 

$35,268,434 84 



Items not Admitted. 



Agents' balances 



Total admitted assets . 
10 



28,864 81 
$35,239,570 03 



74 



LIFE INSURANCE COMPANIES [Dec. 31, 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . $30,640,180 00 

Death losses and matured endowments in 

process of adjustment .... $617,301 00 

Claims resisted by the company . . 30,000 00 



Total policy claims .... 
Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 

Liabilities as to policy-holders 
Surplus as regards policy-holders 



Gross liabilities 



Premium Note Accoun 



- 647,301 00 

200,136 03 

9,492 08 

$31,497,109 11 

. 3,742,460 92 

$35,239,570 03 



T. 



Premium notes on hand Dec. 31, 1878 
Premium notes received during 1879 . 

Total 

Used in payment of losses and claims 
Used in payment of surrendered policies, 
and voided by lapse .... 

Used in payment of dividends to policy- 
holders ....... 

Redeemed by maker in cash 

Total 

Balance note assets Dec. 31, 1879 



$4,803,623 78 
134,775 46 

$242,306 24 

187,227 83 

82,095 46 
27,925 82 



$4,938,399 24 



539,555 35 
:,398,843 89 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 



New Policies issued in 1879 



Whole-life policies 
Endowment policies 
All other policies 



Whole-life policies 
Endowment policies 
All other policies 



Old Policies revived during the Year. 

Whole-life policies ..... 
Endowment policies ..... 

Old Policies increased during the Year 

Whole-life policies ..... 
Endowment policies ..... 



Number. 


Amoimt. 


38,693 $112,269,653 00 


3,050 


6,843,339 00 


21 


66,600 00 


2,810 


6,457,395 00 


411 


1,019,315 00 


104 


291,600 00 


Tear. 




38 


139,600 00 


1 


2,500 00 


Year. 




1 


2,202 00 


3 


5,000 00 



Total number and amount . 



45,132 $127,097,204 00 



1879.] 



OF OTHER 



Terminated by death 

by maturity 

by expiry 

by surrender . 

by lapse . 

by change and decrease 

by transfer 
Not taken 

Total terminated 



Policies in Force Dec. 31, 1879. 

Whole-life policies . ' 39,038 $110,611,529 00 

Endowment policies 3,143 6,807,017 00 

All other policies . . . . . . 105 301,700 00 



:ates. 

during the Year. 


75 


Number. 


Amount. 


. ... . 575 


$1,996,000 00 




149 


608,415 00 




4 


8,000 00 




661 


1,713,414 00 




501 


], 304,420 00 




741 


3,172,609 00 




3 


5,000 00 




212 


569,100 00 


2,846 


$9,376,958 00 



Totals 

Schedule A 
Stocks and Bonds owned by 

United States bonds . 

Massachusetts state bonds . 

Essex county (N.J.) bonds 

Union county (N.J.) bonds 

Brooklyn city (N\Y.) bonds 

Auburn city (N.Y.) bonds 

Utica city (N.Y.) bonds 

Erie city (Penn.) bonds 

Cleveland city (O.) bonds 

Toledo city (O.) bonds 

Sandusky city (O ) bonds 

Springfield city (111.) bonds 

South Bend city (Ind.) bonds 

Lafayette city (Ind.) bonds 

Newark city (N.J.) bonds . 

Orange city (N.J.) bonds . 

East Orange city (N.J.) bonds 

West Orange city (N.J.) bonds 

South Orange city (N J.) bonds 

Jersey city (N.J.) bonds 

Dover city (N.J.) bonds 

New Brunswick city (N.J.) bonds 

Elizabeth city (N.J.) bonds 

Rahway city (N.J.) bonds 

Elizabeth city temporary tax loan 

Newark and N. Y. R.R. 1st mort. bonds 

Pemberton and N. Y. R.R. 1st mort. bonds, 



42,286 $117,720,246 00 



the Company. 
Par value. 

$7,016,500 00 I 

800 00 

2,148,000 00 

114,000 00 

65,000 00 

150,000 00 

145,000 00 

152,000 00 

535,000 00 

173,000 00 

100,000 00 

89,000 00 

61,500 00 

160,000 00 

3,200,000 00 

80,000 00 

100,727 83 

135,500 00 

2,000 00 

50,000 00 

14,000 00 

14,000 00 

955,000 00 

112,000 00 

52,500 00 

573,000 00 

375,000 00 



Market value. 

17,762,846 87 

800 00 

2,405,760 00 

125,400 00 

74,750 00 

165,000 00 

159,500 00 

155,040 00 

615,250 00 

198,950 00 

110,000 00 

89,000 00 

67,650 00 

184,000 00 

3,680,000 00 

92,000 00 

106,771 50 

155,825 00 

2,100 00 

50,000 00 

14,840 00 

15,400 00 

668,500 00 

50,000 00 

52,500 00 

641,760 00 

431,250 00 



$16,573,527 83 $18,080,893 37 



76 



LIFE INSURANCE COMPANIES [Dec. 31, 



NATIONAL LIFE INSURANCE COMPANY OF MONTPELIER, 

VERMONT. 



[Incorporated Nov. 13, 1848. 

Charles Dewey, President. 



Commenced business Feb. 1, 1850.] 

Secretary, George W. Reed. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance . 
for rents of company's property . 



Total income 
Net or ledger assets Dec. 31, 1878 
Decrease of capital during 1879 . 

Total 



$238,749 99 

106,562 10 

5,904 08 

442 05 

4,106 63 



$2,097,514 66 
50,000 00 



$355,764 85 



2,047,514 66 



Disbursements. 

Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 



. $2,403,279 51 



$88,966 07 

798 69 

12,583 46 

340 54 



Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

Cash paid for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 
policies, and voided by lapse ..... 

Cash dividends paid policy-holders .... 

Premium notes or loans used in payment of dividends 

Total paid policy-holders . . . 
Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for furniture and office fixtures . 

for advertising ...... 

for incidentals ...... 

Total disbursements ...... 

Balance ........ 



$102,688 76 

1,877 10 

32,848 46 

1,216 31 

53,027 95 

1,694 89 



$193,353 47 
1,435 58 
16,234 00 
6,313 76 
1,721 50 
9,969 44 
5,514 21 
1,978 89 
2,000 00 
545 70 
6,793 28 



$245,859 83 



52,157,419 68 



1879.] 



OF OTHER STATES. 



77 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 
on collateral security (schedule A) . 
on company's policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 

deposited in bank ..... 

in transit, since received . . 
Agents' ledger balances 

Ledger assets (as per balance) 



$234,422 83 

623,636 96 

129,000 00 

13,942 46 

22,958 00 

1,028,500 00 

185 46 

70,700 00 

15,718 21 

18,355 76 



12,157,419 68 



Other Assets. 
Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force . 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net ain't of uncollected and deferred prems. 

Total assets per company's books 



$1,811 35 
22,193 86 



24,005 21 
4,801 04 



60,181 59 
32,135 00 



19,204 17 



. $2,268,940 44 



Items not Admitted. 



Agents' balances 

Total admitted assets . 



18,355 76 



$2,250,584 68 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $1,439,864 00 
Death losses due and unpaid . . . $3,000 00 
Death losses and matured endowments in • 

process of adjustment .... 17,500 00 

Claims resisted by the company . . 12,000 00 

Total policy claims .... 32,500 00 

Unpaid dividends of surplus due policy-holders . . 103,231 16 
Premiums paid in advance 50,000 00 



Liabilities as to policy-holders $1,625,595 16 

Surplus as regards policy-holders 624,989 52 



Gross liabilities 



$2,250,584 68 



78 



LIFE INSURANCE COMPANIES [Dec. 31, 



Premium Note Account. 
Premium notes on hand Dec. 31, 1878 . $25,110 59 
Premium notes received during 1879 . . 3,313 83 

Total 

Used in payment of losses and claims 
Used in payment of surrendered policies, 
and voided by lapse .... 

Used in payment of dividends to policy- 
holders ....... 

Redeemed by maker in cash 

Total 

Balance note assets Dec. 31, 1879 



$28,424 42 



$1,139 23 




1,216 31 




1,694 89 




1,415 99 






5,466 42 




. 


$22,958 00 



Exhibit of Policies. 
Policies and Additions in Force X)ec. 31, 1878. 

Number. Amount. 

Whole-life policies 3,738 $7,639,079 00 

Endowment policies 250 410,920 00 

All other policies 21 64,280 00 

Reversionary additions ..... - 69,078 00 



New Policies issued in 1879. 

Whole-life policies 323 

Endowment policies . . . . . . 33 

All other policies ...... 9 

Whole-life policies revived during the year . 3 
Whole-life policies increased during the year 
Additions by dividends .... 

Total number and amount . 

Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse . 
Not take*n .... 

Total terminated 



Policies in Force Dec. 31, 1879 



855,200 00 

109,500 00 

38,000 00 

5,210 00 

12,650 00 

2,207 00 



Whole-life policies 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



4,377 


$9,206,124 00 


he Year. 




40 


$89,765 00 


9 


12,924 00 


2 


2,000 00 


189 


381,849 00 


. 74 


303,534 00 


31 


110,000 00 


345 


$900,072 00 


9. 

3,750 


$7,691,300 00 


262 


478,300 00 


20 


68,280 00 


- 


68,172 00 



4,032 



,306,052 00 



1879.] 



OF OTHER STATES. 



79 



Schedule A. 

Securities held as Collateral. 

Market value. 

Vermont National Bank (St. Albans) stock, $19,999 99 

Vermont National Bank (St. Albans) stock, 4,933 00 

St. Albans Trust Company stock . . 2,060 00 

St. Albans Trust Company stock . . 22,660 00 

Vermont National Bank (St. Albans) stock, 10,666 00 

St. Albans village loan .... 60,000 00 

Howard National Bank (Burlington) stock, 13,200 00 

First National Bank (Montpelier) stock . 6,200 00 

United States bonds . . . . . 20,625 00 



Amount loaned. 

$14,000 00 
5,000 00 

20,000 00 
8,000 00 

50,000 00 

10,000 00 
2,000 00 

20,000 00 



$160,343 99 $129,000 00 



Schedule B 

Stocks and Bonds owned by 

United States bonds . 

Maine state bonds 

New Hampshire state bonds 

Vermont state bonds . 

Missouri state bonds . 

Boston city bonds 

Lawrence city bonds . 

Worcester city bonds 

Fitchburg city bonds 

Chelsea city bonds 

Somerville city bonds 

Beverly town bonds . 

Buffalo city bonds 

Burlington city bonds 

Minneapolis city bonds 

Indianapolis city bonds 

Springfield (111.) city bonds 

Meriden (Conn.) city bonds 

St. Louis county bonds 

Peoria county bonds . 

Montpelier town bonds 

Essex town bonds 

Jericho town bonds . 

Johnson town bonds . 

St. Johnsbury town bonds , 

Underhill town bonds 

Wolcott town bonds . 

St. Albans Trust Company stock 

First National Bank (Montpelier) stock 

Montpelier National Bank stock 



the Company. 
Par value. 

$400,000 00 

3,000 00 

15,000 00 

20,000 00 

11,000 00 

10,000 00 

20,000 00 

20,000 00 

60,000 00 

37,000 00 

30,000 00 

25,000 00 

10,000 00 

65,000 00 

3,500 00 

25,000 00 

15,000 00 

43,000 00 

32,000 00 

30,000 00 

30,000 00 

20,000 00 

23,000 00 

2,000 00 

31,000 00 

17,000 00 

3,000 00 

4,300 00 

21,000 00 

2,700 00 



Market value. 

$418,695 00 

3,000 00 

15,000 00 

20,000 00 

11,000 00 

10,000 00 

20,000 00 

20,000 00 

60,000 00 

37,000 00 

30,000 00 

25,000 00 

10,000 00 

65,000 00 

3,500 00 

25,000 00 

15,000 00 

43,000 00 

32,000 00 

30,000 00 

30,000 00 

20,000 00 

23,000 00 

2,000 00 

31,000 00 

17,000 00 

3,000 00 

4,300 00 

32,550 00 

4,590 00 



$1,028,500 00 $1,060,635 00 



80 



LIFE INSURANCE COMPANIES [Dec. 31, 



NATIONAL LIFE INSURANCE COMPANY OF THE UNITED 
STATES OF AMERICA OF WASHINGTON, D.C. 

[Incorporated July 25, 1868. Commenced business Aug. 1, 1868.] 

Paid-up Capital, $1,000,000. 

J. Alder Ellis, President. Secretary, C. H. Antes. 

Principal Office, Chicago, III. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property . 

Total income ...... 

Net or ledger assets Dec. 31, 1878 



Total 



Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments * 
Received for losses and claims on policies re-insured . 

Net amount paid for losses and endowments 
Cash paid to annuitants ...... 

Cash paid for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values, including reconverted additions ap 

plied in payment of premiums .... 

Total paid policy-holders ..... 

Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees . 

for rent ....... 

for advertising ...... 

for incidentals ...... 

for depreciation ...... 

Total disbursements ...... 

Balance ........ 



$396,634 73 

140,567 11 

34,307 52 

895 23 

42,542 51 

$614,947 10 

3,857,093 85 

$4,472,040 95 



$233,755 16 

4,229 85 

50,724 30 

484 70 

$289,194 01 
16,750 00 

$272,444 01 
474 00 

76,854 02 

2,146 68 

91,650 89 

$443,569 60 

25,000 00 

20,856 88 

8,305 10 

2,095 30 

47,169 08 

3S,764 33 

5,507 47 

4,854 82 

47,904 18 

18,538 40 

$662,565 16 

$3,809,475 79 



1879.] 



OF OTHER STATES. 



81 



Invested in the following: — 

Assets as per Ledger Accounts. 

Book value of real estate ..... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) . 

on company's policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office 
Cash deposited in bank 
Bills receivable . 
Agents' ledger balances 
Office furniture . 
Commuted commissions 

Ledger assets (as per balance) 



.Other Assets 

Interest due and accrued .... 
Rents due and accrued \ . 
Market value of real estate over book value 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading ..... 
Net am't of uncollected and deferred prems 

Total assets per company's books 



$925,887 46 

1,862,466 80 

392,699 05 

3,296 40 

32,620 95 

450,677 62 

1,750 62 

117,893 18 

7,186 99 

456 72 

3,000 00 

11,540 00 

$3,809,475 79 



64,533 57 
9,765 42 

75,866 54 
5,180 50 



$19,065 05 
36,053 20 

$55,118 25 
2,940 81 



52,177 44 
. $4,016,999 26 



Items not Admitted. 

Loans on policies of Republic and Chicago 

Life Insurance Companies . . . $53,453 05 

Office furniture, etc 3,000 00 

Commuted commissions .... 11,540 00 

Agents' balances . . . . . 456 72 

Bills receivable . ; 7,186 99 

Total . . 



Total admitted assets 



75,636 76 
. $3,941,362 50 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . 
Deduct net value of re-insured risks 

Net re-insurance reserve * . 



. $3,454,888 00 
62,755 00 

. $3,392,133 00 



* As computed by the company (interest at 6 per cent), $2,495,209. 
11 



82 



LIFE INSURANCE COMPANIES [Dec. 31, 

$2,200 00 



Matured endowments due and unpaid 
Death losses and matured endowments in 

process of adjustment .... 59,308 65 

Claims resisted by the company . . 18,000 00 

Total policy claims 
Premiums paid in advance 
Lapsed policies liable to restoration 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities . 

Premium Note Account. 



$79,508 65 

45,394 90 

6,095 52 

$3,523,132 07 
418,230 43 

$3,941,362 50 



Premium notes on hand Dec. 31, 1878 
Premium notes received during 1879 . 

Total 

Used in payment of losses and claims 
Used in payment of surrendered policies 

and voided by lapse 
Redeemed by maker in cash 

Total 

Balance note assets Dec. 31, 1879 



$43,494 58 
9,764 72 

$4,714 55 

2,146 68 
10,480 72 



$53,259 30 



17,341 95 
$35,917 35 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 



Endowment policies . . . . . .1,159 


1,323,960 00 


All other policies ...... 319 


829,144 00 


Reversionary additions ..... - 


397,519 00 


New Policies issued in 1879. 




Whole-life policies ...... 443 


497,022 00 


Endowment policies ...... 52 


48,031 00 


All other policies ...... 66 


195,650 00 


Total number and amount .... 9,226 


$16,946,454 00 


Policies ceased to be in Force during the Year 




Terminated by death . . . . . 96 


$14,515 00 


by maturity ..... 41 


51,209 00 


by expiry ..... 36 


106,020 00 


by surrender ..... 296 


556,088 00 


by lapse ...... 436 


807,450 00 


by change and decrease . . . 353 


839,200 00 


Not taken ........ 37 


99,819 00 


Total terminated 1,295 


$2,674,301 00 



1879.] 



OF OTHER STATES. 



83 



Whole-life policies 
Endowment policies 
All other policies 



Policies in Force Dec. 31, 1879. 

Number. 

6,648 

1,029 

254 



Reversionary additions 



Totals 



Amount. 

$12,098,593 00 

1,120,787 00 

689,424 00 

363,349 00 



7,931 $14,272,153 00 



Schedule A. 
Securities held as Collateral. 

Market value. 

20 shares' First National Bank, Nashville . $2,000 00 

4 " Stone River National Bank . . 400 00 

Note secured by trust deed . . ■ ■ . 9,000 00 

Chattel mortgage 70,000 00 

25 shares Union Stock Yards and Tr. Co. 3,750 00 
2,137 " American Express Company . 122,877 50 
1,500 " Del. and Hudson Canal Co. + 111,000 00 
400 " Kerby Carpenter Company . 40,000 00 
2,000 " American Express Company . 115,000 00 
Loaned on policies of Republic and Eco- 
nomical Life Insurance Cos., assigned . - 
Loaned on policies of Chicago Life Insur- 
ance Company, assigned ... - 



Amount loaned. 

- $1,800 00 

946 00 

34,000 00 

2,500 00 

• 180,000 00 

20,000 00 
100,000 00 

48,302 13 

5,150 92 

$392,699 05 



Schedule B. 
Stocks and Bonds owned by the Company. 

Cost value. • Market value. 

United States bonds ..... $270,117 62 $257,028 12 

Fond du Lac city bonds .... 25,000 00 26,500 00 

Clinton city bonds 8,000 00 8,400 00 

Chicago city bonds 116,580 00 133,125 00 

Cicero town bonds 4,180 00 4,180 00 

Mt. Pulaski town bonds .... 10,300 00 10,500 00 

Excelsior Life Insurance Company stock . 15,000 00 15,000 00 

Detroit Car Loan Company stock . . 1,500 00 1,125 00 



$450,677 62 $455,858 12 



84 



LIFE INSURANCE COMPANIES [Dec. 31, 



NEW YORK LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated 1841. Commenced business 1845.] 

Morris Franklin, President. 

Vice-President and Actuary, Wm. H. Beers. 



Income. 

Total premium income ....... $5,865,239 28 

Cash received for interest on stocks, bonds, and loans . 1,877,305 57 
for interest on other debts due the company, 49,952 56 

for rents of company's property . . . 94,628 69 



Total income 
Net or ledger assets Dec. 31, 1878 



Total 



. $7,887,126 10 
. 35,380,557 84 

$43,267,683 94 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid to annuitants ...... 

Cash paid for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash dividends paid policy-holders, applied in payment 

premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for advertising ...... 

for incidentals ...... 

Depreciation of assets ...... 



of 



Total disbursements . 
Balance 



$1,590,909 08 

13,945 14 

1,013,327 05 

1,929 17 

$2,620,110 44 
35,000 00 



$2,585,110 44 
194,759 52 
494,255 65 

22,024 96 

1,514,551 33 

10,788 51 

$4,S21,490 41 

390,295 32 

47,000 00 

40,894 30 

183,231 09 

88,752 17 

45,994 11 

226,231 29 

135,966 93 

$5,979,855 62 

$37,287,828 32 



1879.J 



OF OTHER STATES. 



85 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate . . . . . 
Loans on mortgage of real estate (first liens) . 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 
Cash deposited in bank ..... 
Agents' ledger balances ..... 

Ledger assets (as per balance) . 



$4,974,573 68 

15,313,278 95 

850,000 00 

621,403 02 

13,544,671 96 

20,885 13 

1,940,816 35 

22,199 23 

$37,287,828 32 



Other Assets. 
Interest due and accrued . 
Rents due and accrued 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$211,625 23 
367,989 02 

$579,614 25 
115,922 85 



311,733 11 

6,256 00 

811,520 98 



- 463,691 40 

$38,881,029 81 



Items not Admitted. 
Agents' balances ...... 

Total admitted assets 



22,199 23 

$38,858,830 58 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks . 



Net re-insurance reserve 
Matured endowments due and unpaid 
Death losses and matured endowments in 

process of adjustment . . • 
Claims resisted by the company . 

Total policy claims 
Premiums paid in advance 

Liabilities as to policy-holders . 
Surplus as regards Tontine policy-holders 
Surplus as regards other policy-holders 

Gross surplus as regards policy-holders, 

Gross liabilities . 



$33,225,597 00 
229,428 00 

$32,996,169 00 



$32,780 98 

364,433 95 
74,500 00 



- 471,714 93 
16,543 25 

$33,484,427 18 



$1,371,482 18 
4,002,921 22 



5,374,403 40 



$38,858,830 58 



86 



LIFE INSURANCE COMPANIES [Dec. 31, 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $621,984 93 

Premium notes received during 1879 . . 00,274 21 

Total $682,259 14 

Used in payment of losses and claims . $15,874 25 

Used in payment of surrendered policies, 

and voided by lapse .... 22,024 96 

Used in payment of dividends to policy- 
holders 10,788 51 

Redeemed by maker in cash . . . 12,168 40 

Total 60,856 12 

Balance note assets Dec. 31, 1879 .... $621,403 02 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 35,709 $101,953,908 00 

Endowment policies 8,728 20,766,174 00 

All other policies 568 59,090 00 

Reversionary additions - 2,452,972 00 



New Policies issued in 1879. 



Whole-life policies . 
Endowment policies . 
All other policies 



Old Policies revived during the Year. 
Whole-life policies ..... 
Endowment policies ..... 

Old Policies increased during the Year. 
Whole-life policies ..... 
Endowment policies ..... 
Additions by dividends .... 



3,746 


11,045,642 00 


1,314 


4,532,542 00 


400 


31,000 00 


Year. 
56 


215,600 00 


8 


30,965 00 


Year. 




- 


59,383 00 


- 


58,483 00 


- 


1,124,558 00 



Total number and amount . 



. 50,529 $142,330,317 00 



Policies ceased to be in Force during the Year. 



Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse . 

by change and decrease 

Not taken 

Total terminated 



506 


$1,442,867 00 


538 


907,915 00 


35 


71,667 00 


1,106 


4,320,616 00 


1,890 


5,151,162 00 


- 


372,514 00 


749 


2,585,814 00 



4,824 $14,912,555 00 



1879.] 



OF OTHER STATES. 



87 



Whole-life policies 



Policies in Force Dec. 81, 1879. 

Number. Amount. 

35,952 $102,624,621 00 



Endowment policies . 
All other policies 
Reversionary additions 

Totals 



8,827 22,223,794 00 

926 58,090 00 

2,511,257 00 

45,705 $127,417,762 00 



Schedule A. 

Securities held as Collateral. 



10,000 shares N. Y. C. and H. R. R.R. Co. 



Market value. 

1,300,000 00 



Amount loaned* 

$850,000 00 



Schedule B 

Stocks and Bonds owned by 

United States bonds . 

New York city and county bonds 

East Chester (N.Y.) city bonds 

Brooklyn (N.Y.) city bonds 

Buffalo (N.Y.) city bonds . 

Flushing (N.Y.) city bonds 

Yonkers (N.Y.) city bonds 

Rochester (N.Y.) city bonds 

Jersey city bonds 

Newark city bonds 

Missouri state bonds . 

Richmond (Va.) city bonds 

Tennessee state bonds 

Alabama state bonds . 

South Carolina state bonds 

Mississippi state bonds 

Georgia state bonds . 

New York Central and H. R. R.R. bonds 

New York and Harlem Railroad bonds 

Rensselaer and Saratoga Railroad bonds 

Delaware and Hudson Canal bonds 

Delaware and Hudson Canal stock 

Bank of America (N.Y.) stock . 

Merchants' Bank stock 

Bank of the Republic stock 

American Exchange Bank stock 

Metropolitan Bank stock . 



the Company. 
Cost value. 

$3,141,108 

4,460,944 

65,462 

1,760,985 

135,760 

102,600 

210,335 

53,110 

614,580 

410,475 

104,000 

46,250 

6,000 

15,840 

7,624 

15,285 

2,730 

1,019,382 

1,074,075 

9,519 

v 230,000 

24,320 

8,484 

11,112 

907 

10,025 

3,753 



Market value. 

75 $3,195,593 75 

85 4,676,490 00 

37 66,795 32 

55 1,856,600 00 

00 141,970 00 

00 112,200 00 

11 216,290 00 

00 53,110 00 

00 566,350 00 

00 414,620 00 

00 104,000 00 

00 60,000 00 

00 8,190 00 

00 30,240 00 

37 7,624 37 

71 20,000 00 

00 3,675 00 

50 1,225,000 00 

00 1,240,000 00 

92 11,070 00 

00 257,500 00 

00 48,320 00 

00 11,396 00 

58 11,687 50 

50 1,287 00 

00 11,300 00 

75 4,884 00 



$13,544,671 96 $14,356,192 94 



88 



LIFE INSURANCE COMPANIES [Dec. 31, 



NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY 
OF MILWAUKEE, AVIS. 

[Incorporated March, 1857. Commenced business Nov. 25, 1858.] 

H. L. Palmer, President. Secretary, Willard Merrill. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property . 

Total income ...... 

Net or ledger assets Dec. 31, 1878 



Total . 



$1,860,977 98 

1,271,167 52 

39,551 65 

276 36 

6,571 65 

$3,178,545 16 

17,305,265 87 

$20,483,811 03 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values, including reconverted additions ap 

plied in payment of premiums . 

Cash dividends paid policy-holders, $114,667.88; applied 

in payment of premiums, $263,912.61 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 
' for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for rent . • . 

for commuting commissions 

for furniture and office fixtures . 

for advertising ...... 

for incidentals ...... 

Profit and loss 



Total disbursements . 
Balance 



$777,451 39 

42,373 77 

607,631 67 

133,327 27 

$1,560,784 10 

109,412 87 

127,899 48 

73,465 55 

378,580 49 

413,603 20 . 

$2,663,745 69 

125,724 86 

54,182 71 

8,214 00 

114,931 44 

29,727 53 

8,872 70 

13,346 83 

1,138 27 

5,522 70 

80,257 08 

23,274 01 

13,128,937 82 

$17,354,873 21 



1879.] 



OF OTHER STATES. 



89 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ..... 

Loans on mortgage of real estate (first liens) 

Premium notes or loans on policies in force 

Cost value of stocks and bonds owned (schedule A) 

Cash in company's office 

Cash deposited in bank 

Bills receivable . 

Agents' ledger balances 

Office furniture . 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets . . 

Other Assets. 
Interest due and accrued .... 
Rents due and accrued .... 
Uncollected premiums on policies in force . 
Deferred premiums on policies in force 



$1,742,018 44 

10,430,084 63 

2,154,211 21 

1,881,441 15 

80,577 09 

1,016,245 67 

6,251 61 

35,643 41 

7,500 00 

$17,354,873 21 
122,295 80 

$17,232,577 41 

585,924 63 
383 33 



Total 

Deduct loading (25 per cent) 

Net am't of uncollected and deferred prems. 



$52,107 63 
192,235 00 

$244,342 63 
61,085 65 



Total assets per company's books 

" Items not Admitted. 

Office furniture, etc $7,500 00 

Agents' balances 35,643 41 

Bills receivable 6,251 61 

Total . 



183,256 98 
,002,142 35 



Total admitted assets 



49,395 02 
$17,952,747 33 



Liabilities. 

Computed premium reserve or net present value of all out- 



standing policies (Actuaries' 4 per cent) 
Death losses and matured endowments in 

proces of adjustment .... 
Claims resisted by the company 

Total policy claims .... 
Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 
Accrued commissions .... 

Reserve on lapsed policies .... 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities ..... 
12 



$14,717,860 00 



$169,132 90 
48,100 00 



- 217,232 90 

7,000 00 

4,959 59 

3,000 00 

14,911 00 

$14,964,963 49 
. 2,987,783 84 



$17,952,747 33 



90 



LIFE INSURANCE COMPANIES [Dec. 31, 



$2,894,333 65 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $2,602,923 25 

Premium notes received during 1879 . . 291,410 40 

Total 

Used in payment of losses and claims . $175,701 04 
Used in payment of surrendered policies, 

and voided by lapse .... 127,899 48 
Used in payment of dividends to policy- 
holders 413,603 20 

Redeemed by maker in cash . . . 22,918 72 

Total 740,122 44 

Balance note assets Dec. 31, 1879 .... $2,154,211 21 

Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

25,501 $18,802,523 00 

7,137 10,576,294 00 



Whole-life policies 
Endowment policies 



All other policies 


616 


2,062,197 00 


New Policies issued in 


1879. 




Whole-life policies ..... 
Endowment policies ..... 
All other policies ..... 


. 2,675 

607 

63 


6,361,105 00 

1,145,599 00 

133,956 00 


Old Policies revived during 


the Year. 




Whole-life policies 

Endowment policies ..... 
All other policies 


326 

57 

7 


754,309 00 
88,175 00 
27,000 00 


Policies increased during the year 
Additions by dividends .... 


4 
. 36,993 


327,148 00 
199,134 00 


Total number and amount . 


$70,477,440 00 


Policies ceased to be in Force during the Year 




Terminated by death .... 

by maturity and expiry . 

by surrender .... 

by lapse ..... 

by change and decrease . 
Not taken 


337 
565 
620 
. 2,140 
1 
264 

. 3,927 


$737,872 00 

983,691 00 

1,137,885 00 

4,591,621 00 

418,720 00 

658,763 00 


Total terminated .... 


$8,528,552 00 



Policies in Force Dec. 31, 1879. 

Whole-life policies 25,766 $49,445,496 00 

Endowment policies 6,722 10,261,375 00 

All other policies 578 2,242,017 00 



Totals 



33,066 $61,948,888 00 



1879.] 



OF OTHER STATES. 



91 



United States bonds . 
Missouri state bonds . 
Kansas city bonds 
Gale town bonds 
Green Bay city bonds 
Milwaukee city bonds 



Schedule A. 

Stocks and Bonds owned by the Company: 

Cost value. Market value. 

$1,733,401 65$1,761,695 00 

52,497 50 51,810 00 

71,250 00 75,200 00 

4,000 00 4,350 00 

18,292 00 18,461 86 

2,000 00 2,008 33 



,881,441 15^1,913,525 19 



PENN MUTUAL LIFE INSURANCE COMPANY OF 
PHILADELPHIA. 



[Incorporated Feb. 24, 1847. 

Samuel C. Huey, President. 



Commenced business May 25, 1847.] 

Secretary, Henry Austie. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
for rent of company's property 
for profits on real estate sold 

Premiums received for re- insurance: cash . 

Total income ..... 
Net or ledger assets Dec. 31, 1878 



Total 



$1,039,041 95 

335,853 73 

20,071 39 

13,134 54 

4,319 02 

1,169 76 

11,413,590 39 
6,338,288 38 

$7,751,878 77 



Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 
Received for losses and claims on policies re-insured . 

Net amount paid for losses and endowments 
Cash paid to annuitants ...... 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash dividends paid policy-holders, applied in payment of 

premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders 



$370,603 71 

'15,369 08 

70,566 08 

7,152 92 



$463,691 79 
15,000 00 



$448,691 79 
139,393 22 

42,627 03 

171,942 16 
62,877 07 



5,531 27 



92 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees .... 

for rent ...... 

for commuting commissions 

for furniture and office fixtures . 

for advertising and printing 

for incidentals ..... 

for depreciation ..... 

Total disbursements ..... 

Balance ....... 

Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) . 

on company's policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office 
Cash deposited in bank 
Bills receivable . 
Agents' ledger balances 
Office furniture, etc. . 

Ledger assets (as per balance) 



$58,994 77 

23,146 67 

8,630 50 

35.280 87 

24.281 61 
6,266 03 
5,504 72 
5,337 16 

12,632 66 
35,102 35 
28,707 92 

,109,416 53 

1,642,462 24 



$554,990 06 

2,600,720 89 

1,000 00 

106,853 00 

670,158 51 

2,413,901 70 

553 90 

274,513 49 

2,000 00 

13,241 54 

4,529 15 

56,642,462 24 



Other Assets. 
Interest due and accrued . 
Rents due and accrued 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading (15 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$49,392 23 
55,442 95 

$104,835 18 
15,725 27 



103,112 34 

5,360 55 

191,273 80 



89,109 91 
. $7,031, 31S 84 



Items not Admitted. 



Office furniture, etc. . 
Agents' balances 
Bills receivable . 
Total . 

Total admitted assets 



$4,529 15 

13,241 54 

2,000 00 



19,770 69 
\ 011,548 15 



1879.] 



OF OTHER STATES. 



93 



Liabilities. 



Computed premium reserve or net present value of all out- 



standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks . 

Net re-insurance reserve ... 

Premium obligations in excess of net values of their policies, 

Death losses and matured endowments in 

process of adjustment .... $96,493 00 

Claims resisted by the company . . . 25,640 00 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 
Life-rate endowment fund . . 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities 



. $5,785,368 00 
76,786 00 

. $5,708,582 00 
401 99 



122,133 00 

21,765 30 

11,336 26 

32,717 82 

$5,896,936 37 

1,114,611 78 

$7,011,548 15 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $693,492 70 

Premium notes received during 1879 . . 116,945 15 

Total $810,437 85 

Used in payment of losses and claims . $22,522 00 

Used in payment of surrendered policies, 

and voided by lapse .... 39,884 54 

Used in payment of dividends to policy- 
holders 62,877 07 

Redeemed by maker in cash . . . 14,995 73 

Total 140,279 34 

Balance note assets Dec. 31, 1879 . $670,158 51 



Exhibit of Policies. 
Policies and Additions in Force Dec. 81, 1878. 

Number. Amount. 

Whole-life policies 8,271 $24,251,925 00 

Endowment policies 2,439 4,934,082 00 

All other policies ...... 21 60,000 00 

Reversionary additions ..... - 29,090 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 
All other policies 



Old Policies revived during the Year. 



Whole-life policies 
Endowment policies 
All other policies 



1,156 

362 

1 


2,959,700 00 

879,075 00 

5,000 00 


mr. 

27 

180 

1 


68,632 00 

78,342 00 

3,500 00 



94 



LIFE INSURANCE COMPANIES [Dec. 31, 



Old Policies increased during the Year. 

Number. 

Whole-life policies ...... 1 

Endowment policies ...... 4 

Additions by dividends ..... - 



Amount. 

$10,296 00 
10,405 00 
12,189 00 



Total number and amount .... 12,403 $33,302,236 00 
Policies ceased to be in Force during the Year. 



Terminated by death 


. 


145 


$388,362 00 


by maturity 


. 


41 


77,434 00 


by expiry 


. 


4 


17,321 00 


by surrender . 


. 


340 


850,574 00 


by lapse . 


. 


551 


1,420,662 00 


by change and decrease . 


5 


297,900 00 


Not taken .... 


• • 


188 


571,950 00 


Total terminated 


. 1,274 


$3,624,203 00 



Policies in Force Dec. 31, 1879. 



Whole-life policies 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



8,569 $24,490,032 00 

2,601 5,099,993 00 

19 51,500 00 

36,508 00 



11,189 $29,678,033 00 



Schedule A. 

Securities held as Collateral. 



Bethlehem Iron Company's bonds 

Schedule B. 
Stocks and Bonds owned by the 

United States bonds .... 
Alleghany city loan .... 
Louisville and Nashville Railroad bonds 
Louisville city bonds .... 
St. Louis city bonds .... 
Canton city bonds .... 
Susquehanna Canal bonds . 
Lehigh Valley Railroad bonds . 
Pennsylvania Railroad mortgage bonds 
Reading Railroad mortgage bonds 
West Chester Railroad bonds 
American Steamship Company . 
United Canal and Railroad bonds 
North Pennsylvania Railroad bonds . 
Harrisburg city water bonds 
Burlington (Io.) water bonds 
Stony Creek' Railroad bonds 



Market value. Amount loaned. 

$1,520 00 $1,000 00 



Company. 
Cost value. 

$585,150 57 

9,000 00 

7,141 40 

140,812 50 

25,030 00 

10,000 00 

48,000 00 

50,000 00 

100,150 00 

103,000 00 

103,806 35 

25,000 00 

46,250 00 

103,625 00 

50,150 00 

70,500 00 

49,000 00 



Market value. 

$571,029 50' 

12,000 00 

10,500 00 

161,000 00 

31,500 00 

10,500 00 

48,000 00 

61,750 00 

123,490 00 

114,500 00 

116,500 00 

25,250 00 

53,000 00 

119,800 00 

60,180 00 

76,500 00 

53,000 00 



1879.] 



OF OTHER STATES. 



95 



Masonic redemption bonds 
Phoenix Iron Company's bonds . 
Delaware and Bound Brook Railroad bonds 
Illinois and St. Louis Railroad bonds 
Cumberland city bonds 
Cleveland city bonds . . . . 
Chester city bonds .... 
Baltimore and Ohio Railroad bonds . 
Philadelphia city loan 



318 sha 

100 

209 

76 

50 
100 

50 
250 
700 



es Girard Life Ins. A. and T. Co. 
Western National Bank 
Commercial National Bank 
Bank of North America . 
Girard National Bank 
Corn Exchange National Bank 
Mechanics' Bank, St. Louis 
Delaware Mutual Ins. Company 
Northern Central Railroad 



Union League mortgage bonds 



Cost value. 

$100,000 00 

49,500 00 

100,000 00 

100,000 00 

45,000 00 

26,375 00 

185,571 00 

105,000 00 

46,200 00 

8,225 38 

6,862 50 

11,035 25 

10,168 00 

2,000 00 

5,000 00 

4,950 50 

6,250 00 

25,148 25 

50,000 00 



Market value. 

$107,000 00 

50,000 00 

117,000 00 

110,000 00 

51,500 00 

26,750 00 

191,100 00 

107,000 00 

48,000 00 

12,720 00 

7,500 00 

13,376 00 

19,380 00 

3,500 00 

5,500 00 

3,250 00 

10,000 00 

23,100 00 

50,000 00 



^2,413,901 70 $2,605,175 50 



PHCENIX MUTUAL LIFE INSURANCE COMPANY OF HART- 
FORD, CONN. 

[Incorporated May, 1851. Commenced business May, 1851.] 

Paid-up Capital, $100,000. 

Aaron C. Goodman, President. Secretary, John M, Holcombe. 

Income. 

Total premium income $1,054,526 14 

Cash received for interest on stocks, bonds, and loans . 612,478 91 
for interest on other debts due the company, 6,846 45 

for rents of company's property . . . 35,088 42 



Total income ...... 

Net or ledger assets Dec. 31, 1878 

Total 

Disbursements. 

Cash paid for losses and additions 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 



. $1,708,939 92 
. 10,534,112 60 



$12,243,052 52 



$441,768 58 

43,906 52 

165,712 78 

33,840 22 

$685,228 10 



96 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values, including reconverted additions ap 

plied in payment of premiums .... 
Cash dividends paid policy-holders, $178,285.85; applied 

in payment of premiums, $24,4S7.74 

Total paid policy-holders 

Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for rent ....... 

for furniture and office fixtures . 

for advertising ...... 

for incidentals ...... 

Profit and loss account ...... 

Total disbursements ...... 

Balance ........ 



$236,261 30 

198,539 33 

78,911 55 

202,773 59 

$1,401,713 87 

6,000 00 

63,559 84 

44,571 32 

3,890 72 

37,806 58 

60,123 76 

13,818 44 

109 23 

3,910 91 

30,219 73 

101,973 32 

$1,767,697 72 



$10,475,354 80 



Invested in the following: — 

Assets as per Ledger Accounts 

Cost value of real estate .... 

Loans on mortgage of real estate (first liens) 

Loans on collateral security (schedule A) . 

Premium notes or loans on policies in force 

Cost value of stocks and bonds owned (schedule B) 

Cash in company's office . 

Cash deposited in bank 

Bills receivable .... 

Agents' ledger balances 

Ledger assets (as per balance) 



$1,031,088 22 

5,979,658 95 

36,835 61 

2,150,440 48 

704,703 00 

21,062 63 

499,528 18 

36,537 17 

15,500 56 



$10,475,354 80 



Other Assets. 
Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$4,061 16 
45,600 48 

$49,661 64 
9,932 35 



153,691 24 
30,440 00 



39,729 29 



$10,699,215 33 



1879.] 



OF OTHER STATES. 



97 



Items not Admitted. 



$15,500 56 
36,537 17 



Agents' balances 
Bills receivable . 

Total . . . . 

Total admitted assets . 



Liabilities. 

Computed premium reserve or net present value of all out- 



2,037 73 



,647,177 60 



standing policies (Actuaries' 4 per cent) 
Death losses due and unpaid 
Matured endowments due and unpaid 
Death losses and matured endowments in 

process of adjustment 
Claims resisted by the company 

Total policy claims 
Premiums paid in advance 
Special and contingent reserves 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities . 



. 19,909,800 00 



$38,272 79 
500 00 

152,577 00 
40,226 29 



231,576 08 

63,117 52 

108,125 70 



$10,312,619 30 
334,558 30 



,647,177 60 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $2,366,120 83 

Premium notes received during 1879 . . 91,651 71 

Total $2,457,772 54 

Used in payment of losses and claims . $77,746 74 

Used in payment of surrendered policies, 

and voided by lapse .... 198,539 33 

Used in payment of dividends to policy- 
holders 24,487 74 

Redeemed by maker in cash . . . 6,558 25 

Total 



Balance note assets Dec. 31, 1879 



- 307,332 06 
. $2,150,440 48 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. 

Whole-life policies ...... 17,522 $ 

Endowment policies 6,227 

All other policies ...... 93 

Reversionary additions ..... - 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies 
All other policies 
13 



1,313 

380 

42 



Amount. 

51,161,636 00 

6,957,778 00 

173,250 00 

123,269 00 



1,459,917 00 

365,806 00 

74,250 00 



98 



LIFE INSURANCE COMPANIES [Dec. 31, 



Old Policies revived during the Year. 







dumber. 


Amount 


Whole-life policies 


. 


108 


$180,889 00 


Endowment policies . 


. 


52 


63,258 00 


Additions by dividends 


... 


- 


13,044 00 


Total number and amount . 


25,737 


$40,573,097 00 


Policies ceased to be in Force during 


the Yea? 


. 


Terminated by death 


... 


266 


$530,116 00 


by maturity . 


. 


161 


197,563 00 


by surrender . 


. 


859 


1,397,527 00 


by lapse . 


. 


971 


1,620,690 00 


by change 


. 


643 


1,395,972 00 


by decrease 


. 


- 


• 95,450 00 


Not taken ..... 


... 


165 


247,228 00 


Total terminated 


3,065 


$5,484,546 00 



Policies in Force Dec. 31, 1879. 



"Whole-life policies 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



Securities held as Collateral. 

Market value. 

Quincy, Pacific, and Missouri R.R. note guar. $35,000 00 
Notes secured by assignment of mortgages, 2,850 00 





# 


. 5 


793 


6,353,730 00 




. 




71 


124,000 


00 




. 




- 


125,685 


00 




. 22 


672 


$35,088,551 


00 


Schedule 


A. 


i 









Amount loaned. 

$35,000 00 
1,835 61 



$37,850 00 $36,835 61 



Schedule B. 
Stocks and Bonds owned by 

United States bonds ..... 
West Middle School District bonds, Hartf'd, 
Indiana Central Railroad bonds . 
Valley Falls township bonds 
Mattoon city bonds ..... 
Benton Harbor and St. Joseph school bonds, 
200 shares Charter Oak National Bank 



200 " First National Bank, Hartford . 

35 " iEtna National Bank, Hartford, 

100 " Mercantile Nat'l Bank, Hartf'd, 

640 " American Nat'l Bank, Hartford, 

55 " Farmers' and Mechanics' N. B'k, 



the Company. 
Cost value. 

$369,160 00 
107,500 00 

7,600 00 
14,835 00 
37,970 00 

4,000 00 
19,662 00 
22,255 00 

3,500 00 

6,950 00 
36,893 00 

6,068 00 



Market value. 

$370,125 00 
107,500 00 

8,000 00 
20,000 00 
39,000 00 

4,000 00 
26,000 00 
21,600 00 

4,200 00 
12,250 00 
40,320 00 

6,600 00 



1879.] 



OF OTHER STATES. 



99 



200 shares Phoenix Nat'l Bank, Hartford . 

100 " First National Bank . 
83 " Toledo National Bank 
50 " U. S. Trust Company, Hartford, 

284 " Hartford City Gas-Light Co. . 

100 " Security Company, Hartford 



Cost value. 

$26,000 00 

10,000 00 

9,960 00 

5,000 00 

7,350 00 

10,000 00 



Market value. 

$30,600 00 

12,000 00 

9,960 00 

3,000 00 

9,088 00 

10,900 00 



$704,703 00 $735,143 00 



PROVIDENT LITE AND TRUST COMPANY OF PHILA- 
DELPHIA, PENN. 

[Incorporated March 22, 1865. Commenced business July, 1865.] 

Paid-up Capital, $500,000. 

Samuel R. Shipley, President. Assistant Secretary, Asa S. Wing. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for profits on bonds sold 

Total income 

Net or ledger assets Dec. 31, 1878 



Total 



Disbursements. 
Cash paid for losses and additions .... 
Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Cash paid to annuitants ...... 

Cash paid for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values, including reconverted additions ap 

plied in payment of premiums .... 
Cash dividends paid policy-holders, $13,470.67; applied in 

payment of premiums, $122,158.93 
Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for commissions to agents . . . 

for salaries and travelling expenses of agents 
for medical examiner's fees 



$825,497 85 

163,787 38 

16,369 84 

581 37 

24,780 74 

$1,031,017 18 
4,177,674 92 

$5,208,692 10 



$222,521 00 
53,912 48 

$276,433 48 

8,013 02 

54,015 34 

2,138 93 

4,788 00 

135,629 60 
9,582 19 

$490,600 56 

55,807 32 

17,362 42 

5,345 78 



100 



LIFE INSURANCE COMPANIES [Dec. 31, 



$30,303 04 

14,847 91 

2,779 49 

4,103 41 

4,437 10 

13,488 02 

$045,135 11 

$4,503,550 99 



$502,051 07 

1,231,310 47 

1,104,502 93 

73,798 90 

1,015,773 13 

30,114 43 

$4,503,550 99 

4,080 00 

$4,559,470 99 



Cash paid for salaries of officers and office employes 
for taxes and fees 
for rent 

for furniture and office fixtures 
for advertising . 
for incidentals . 

Total disbursements . 

Balance 

Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) . 
Cash in company's office ...... 

Ledger assets (as per balance) . . 
Deduct depreciation from cost of assets 

Total net or ledger assets ..... 

Other Assets. 
Interest due and accrued ....... 29,381 02 

Market value of stocks and bonds over cost . ." . 32,820 87 

Un collected premiums on policies in force . $54,795 20 

Deferred premiums on policies in force . 134,029 03 

Total $189,424 89 

Deduct loading (20 per cent) . . . 37,884 98 
Net am't of uncollected and deferred prems. 

Total assets per company's books .... 

Liabilities. 
Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 
Death losses due and unpaid 
Death losses and matured endowments in 

process of adjustment .... 54,550 00 

Due and unpaid on annuity claims . . 278 24 

Total policy claims 
Unpaid dividends of surplus due policy-holders 
Due for borrowed money . 
Premiums paid in advance . 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities . 



151,539 91 
:,773,219 39 



. $3,800,008 00 
$5,125 00 



59,953 24 

9,399 11 

233 00 

5,310 80 

$3,935,570 21 
837,049 18 

$4,773,219 39 



1879.] 



OF OTHER STATES. 



101 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $79,536 87 

Premium notes received during 1879 . . 8,246 99 

Total $87,783 86 

Used in payment of surrendered policies, 

and voided by lapse . $2,138 93 
Used in payment of dividends to policy- 
holders 9,582 19 

Redeemed by maker in cash . . . 2,263 78 

Total 13,994 90 

Balance note assets Dec. 31, 1879 .... $73,798 96 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies . . ' . . . . 1,818 $5,575,339 00 

Endowment policies . . . . . . 4,956 - 14,931,798 00 

All other policies 100 377,800 00 

Reversionary additions ..... - 99,617 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies . 
All other policies 



113 

1,019 

26 



398,540 00 

3,302,339 00 

116,600 00 



Old Policies revived during the Year. 
Whole-life policies ..... 
Endowment policies ..... 
Endowment policies increased during the year 
Additions bv dividends .... 



Total number and amount 



1 1,500 00 

7 13,500 00 

3,000 00 

22,554 00 

8,040 $24,842,587 00 



Policies ceased to be in Force during the Year. 



Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse . 

by change and decrease 
Not taken ..... 

Total terminated 

Policies in Force Dec 
Whole-life policies 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



62 

37 

11 

256 

294 

23 



$214,926 00 

54,411 00 

68,400 00 

781,765 00 

1,030,490 00 

110,800 00 

95,500 00 



683 $2,356,292 00 



31, 1879. 



1,801 $5,534,644 00 

5,460 16,483,695 00 

96 359,000 00 

108,956 00 

7,357 $22,486,295 00 



102 



LIFE INSURANCE COMPANIES [Dec. 31, 



Schedule A. 

Securities held as Collafci 



Pennsylvania state bonds . 

22 shaves Bank of North America 
4,845 '{ Pennsylvania Railroad 
Philadelphia city bonds 
500 shares Pennsylvania Railroad 
200 " Gerrnantown and Norrist'n R.R 
Metropolitan Elevated Railway . 
Metropolitan Car Trust Company- 
Car Trust Company of New York 
Summit Branch Railroad . 
Warren and Franklin Railroad . 
North Pennsylvania Railroad 
Delaware state bonds 
25 shares United Companies of New Jersey, 
Philadelphia and Reading Railroad bonds, 
Pittsburg, Cin., and St. Louis R.R. bonds, 
6,000 shares North Pennsylvania Railroad, 
United States bonds .... 
Philadelphia and Erie Railroad bonds 
Delaware and Bound Brook R.R. bonds 
2,000 shares Lehigh Valley Railroad . 

625 " Penn. and N. Y. Consol. R.R 
Lehigh Coal and Navigation Co. bonds 
East Pennsylvania R.R. mortgage bonds 
New Jersey Car Trust Company 
400 shares Pennsylvania Railroad 
200 u Adams Express Company . 
600 " Pennsylvania Railroad 
130 " Spring Garden Insurance Co. 



al. 

Market value. 

$6,570 00 

5,500 00 

244,472 00 
11,050 00^ 
25,250 00 > 
20,400 00' 

183,000 00 

67,000 00 

62,000 00 

31,680 00 

6,860 00 

170,000 00 
3.060 00] 



Amount loaned. 

$5,874 00 

4,338 40 

164,552 69 

36,227 11 

170,048 67 

58,414 19 

56,478 29 

25,636 00 

4,307 60 

122,904 15 



3,825 00 



1,120 00 j 
1,105 00 j 
306,000 00 
1,000 00) 
4,330 00 I 
18,360 00 
105,000 00 
62,500 00 
62,620 00 
4,400 00 
11,000 00 
20,200 00 } 
20,800 00 j 
30,300 00 
14,300 00 



y . 7,330 80 



206,401 83 
4,946 67 

14,778 17 
49,218 75 
48,916 67 
48,958 33 
2,937 50 
9,858 89 

24,647 22 

25,000 00 
12,727 00 



,503,702 00 81,104,502 93 



Schedule B. 
Stocks and Bonds owned by 

United States bonds . 

Pennsylvana state bonds . 

Lehigh Valley Railroad bonds . 

Pennsylvania Railroad bonds 

Summit Branch Railroad bonds 

Crane Iron Company bonds 

Phil, and Reading Coal and Iron Co. bonds, 

Car Trust Company of New York 

New York and Pacific Car Trust Company, 



the Company. 
Cost value. 

$943,000 00 

30,993 75 

292,500 00 

161,184 38 

22,500 00 

45,000 00 

14,850 00 

31,495 00 

74,250 00 



Market value. 

$912,500 00 
33,750 00 
330,000 00 
179, S50 00 
25,000 00 
45,000 00 
16,500 00 
31,000 00 
75,000 00 



,615,773 13 $1,648,600 00 



1879.] 



OF OTHER STATES. 



103 



PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF 

NEW YORK. 

[Incorporated Feb. 25, 1875. Commenced business Aug. 10, 1875.] 

Paid-up Capital, $100,000 * 

Sheppard Homans, President. Secretary, William E. Stevens. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

Cash received for assessments to repair capital . 

i 
Total income 

Net or ledger assets Dec. 31, 1878 . 



Total 



Disbursements. 
Cash paid for losses and additions .... 
paid for surrendered policies .... 
dividends paid policy-holders .... 

Total paid policy-holders . . . ... 

Cash paid for commissions to agents .... 

for salaries and travelling expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for rent ....... 

Profit and loss . . . . . . . 

Cash paid for advertising ...... 

Cash paid for incidentals 

Total disbursements . . . 



Balance 



Invested in the following : — 

Assets as per Ledger Accounts. 
Loans on mortgage of real estate (first liens) . 
Loans on policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule A) 
Cash in company's office . 
Cash deposited in bank 
Agents' ledger balances 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



$39,898 45 

6,000 00 

19,000 00 

$64,898 45 
128,787 92 

$193,686 37 



$11,919 20 

1,882 62 

405 44 

$14,207 26 
7,799 48 
4,318 37 
1,909 77 
6,637 85 

937 12 
2,341 56 
4,000 00 

904 81 
3,378 32 

$46,434 54 

$147,251 83 



$7,000 00 
300 31 
1,116 55 
124,718 75 
3,988 75 
6,149 90 
3,977 57 

$147,251 83 
20,218 75 

$127,033 08 



* Reduced from $125,000 in December, 1879. 



104 



LIFE INSURANCE COMPANIES [Dec. 31, 

Other Assets. 



Interest due and accrued .... 
Other debts due the company . 
Uncollected premiums on policies in force . 
Deferred premiums on policies in force 

Total 

Deduct loading ...... 

Net ain't of uncollected and deferred prems. 

Total assets per company's books 



• • 


$65 00 


. 


4,000 00 


$7,779 16 




16,888 05 





$24,667 21 
6,347 05 



18,320 16 
$149,418 24 



Items not Admitted. 



Agents' balances ....... 


ut- 

43 
25 


3,977 57 


Total admitted assets . 

Liabilities. 

Computed premium reserve or net present value of all o 

standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks .... 


$145,440 67 

$42,665 00 
2,537 00 


Net re-insurance reserve ..... 
Death losses due and unpaid ..... 
Due for salaries, rent, and office expenses . 
Miscellaneous ........ 


$40,128 00 
3,000 00 
2,000 00 
2,500 00 


Liabilities as to policy-holders .... 
Surplus as regards policy-holders .... 


$47,628 00 
97,812 67 


Gross liabilities 

Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . . $859 
Premium notes received during 1879 . . . 312 

Tnrnl 


$145,440 67 

$1,171 68 
55 13 


Used in payment of surrendered policies, and voided 


by 



Balance note assets Dec. 31, 1879 



$1,116 55 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 153 $194,511 00 

Endowment policies 18 72,000 00 

All other policies 734 1,789,424 00 



1879.] 



OF OTHER STATES. 

New Policies issued in 1879. 



105 



Whole-life policies 

Endowment policies . 

All other policies . . 

Total number and amount . 

Policies ceased to be in Force during the Year. 

Terminated by death . 

by expiry 

by surrender . 

by lapse . 
Not taken .... 



Total terminated 



Number. 


A mount. 


144 


$62,045 00 


13 


15,850 00 


373 


757,250 00 


1,435 


$2,891,080 00 


ig the Year. 




3 


$5,000 00 


221 


500,740 00 


24 


43,434 00 


65 


49,025 00 


45 


85,850 00 


358 


$684,049 00 



Policies in Force Dec. 31, 1879. 



Whole-life policies 
Endowment policies 
All other policies 



210 $174,747 00 

23 71,350 00 

844 1,960,934 00 



Totals 



1,077 $2,207,031 00 



United States bonds . 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost value. Market value. 

$124,718 75 $104,500 00 



TRAVELERS' INSURANCE COMPANY (LIFE DEPARTMENT) 

OF HARTFORD, CONN. 

[Incorporated June 17, 1863. Commenced business July, 1866.] 

James G. Batterson, President. Secretary, Rodney Dennis. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 

as discount on claims paid in advance . 

for rents of company's property . 

for profits on bonds, stocks, or gold sold 



Total income 
Net or ledger assets Dec. 31, 1378 



Total 



$434,603 66 

185,890 85 

1,742 45 

290 38 

8,411 60 

805 64 



$631,744 58 
3,417,817 41 

14,049,561 99 



14 



106 



LIFE INSURANCE COMPANIES [Dec. 31, 



Disbursements. 
Cash paid for losses and additions .... 
Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Cash paid to annuitants ...... 

Cash paid for surrendered policies .... 

Total paid policy-holders ..... 
Cash paid for commissions to agents .... 
for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees . . . . 

for rent 

for advertising ...... 

for incidentals ...... 

Total disbursements ...... 

Balance ........ 

Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 
Loans on company's policies assigned as collateral 
Cost value of stocks and bonds owmed (schedule A) 
Cash in company's office 
Cash deposited in bank 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total or net ledger assets . 



$124,380 06 
14,366 66 



$138,746 72 

1,150 00 

34,594 98 



$174,491 70 

37,852 67 

13,854 10 

6,756 96 

19,082 14 

3,004 19 

650 25 

15,690 25 

8,959 77 



$280,342 03 
$3,769,219 96 



$907,896 42 

1,833,372 91 

1,700 00 

859,566 72 

434 55 

166,249 36 



$3,769,219 96 
195,384 55 



$3,573,835 41 



Other Assets: 

Interest accrued ..... 

Market value of stocks and bonds over cost 
Uncollected premiums on policies in force 
Deferred premiums on policies in force 

Total ...... 

Deduct loading ..... 
Net am't of uncollected and deferred prems 

Total assets of Life Department 
Total assets of Accident Department 

Gross assets .... 



$38,775 40 
56,045 92 



,821 32 
11,378 56 



47,035 93 
2,792 78 



83,442 76 

. $3,707,106 88 
. 1,248,883 54 

. $4,955,990 42 



1879.] 



OF OTHER STATES. 



107 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $3,206,456 00 
Deduct net value of re-insured risks 23,846 00 



$290 00 

49,366 00 
14,000 00 



Net re-insurance reserve 
Reserve for indemnity contracts of life policies 
Death losses due and unpaid 
Death losses and matured endowments in 
process of adjustment .... 
Claims resisted by the company 

Total policy claims . . . . 

Liabilities as to policy-holders in Life Department 
Liabilities as to policy-holders in Accident Department 

Gross liabilities . . . 

Surplus as regards policy-holders 



$3,182,610 00 
7,500 00 



63,656 00 



1,253,766 00 
403,444 66 



$3,657,210 66 



$1,298,779 76 



Whole-life policies 
Endowment policies 
All other policies 



Whole-life policies 
Endowment policies 
All other policies 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

9,105 $15,747,749 00 



New Policies issued in 1879. 



Old Policies revived during the Year 



W r hole-life policies 
Endowment policies . 



Old Policies increased during the Year 



Whole-life policies 
All other policies 

Total number and amount . 



1,949 


2,391,206 00 


76 


130,400 00 


1,450 


2,305,150 00 


226 


310,293 00 


35 


96,500 00 


zar. 
50 


92,756 00 


10 


6,583 00 


r ear. 


1,077 00 


- 


100 00 



12,901 $21,081,814 00 



Policies ceased to be in Force during the Year. 



Terminated by death . 


95 


$147,643 00 


by maturity . 


19 


24,067 00 


by surrender . 


61 


78,838 00 


by lapse .... 


815 


1,435,650 00 


by change and decrease . 


363 


894,484 00 


Not taken 


196 
. 1,549 


319,000 00 


Total terminated 


$2,899,682 00 



108 



LIFE INSURANCE COMPANIES [Dec. 31, 



Policies in Force Dec. 31, 1879. 

Number. Amount. 

AV hole-life policies 9,334 $15,668,986 00 

Endowment policies 1,934 2,342,046 00 

All other policies 84 171,100 00 



Totals 



11,352 $18,182,132 00 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost value. Market value. 

United States bonds $11,675 00 $10,800 00 

Connecticut state bonds .... 42,800 00 42,400 00 

Lyon county (Kan.) bonds . . . 4,548 11 4,300 00 

Topeka city bonds 30,586 84 34,000 00 

Indianapolis city bonds .... 7,766 66 10,000 00 

Oswego city bonds 10,639 72 10,200 00 

Middletown (Conn.) town bonds . . 10,786 67 10,700 00 

Columbus city bonds 10,480 83 10,400 00 

Hartford city bonds 10,600 00 10,700 00 

Pilot (111.) town bonds .... 13,287 12 12,120 00 

Norton (111.) town bonds .... 13,287 12 12,120 00 

Limestone (111.) town bonds . . . 12,179 86 11,110 00 

Lakin township (Kan.) bonds . . . 7,455 00 7,140 00 

Montreal school bonds .... 27,17993 26,78000 

Montreal harbor bonds .... 2 1,0 It) 40 20,60000 

600 shares Hartford City Gas-Light Co. . 28,635 01 18,000 00 

Lake Shore and Mich. Southern R.R. bonds, 2,110 00 2,340 00 

Milwaukee and St. Paul Railroad bonds . 20,462 50 22,800 00 

Keokuk and Des Moines Railroad bonds . 4,950 00 9,000 00 

New York, Prov., and Boston R.R. bonds, 9,597 22 11,700 00 

Detroit, Monroe, and Toledo R.R. bonds . 21,432 17 22,200 00 

Buffalo, New York, and Erie R.R. bonds . 53,706 67 57,500 00 

Southern Minnesota Railroad bonds . . 9,000 00 10,000 00 

Northern Missouri Railroad bonds . . 10,700 00 11,500 00 

Syracuse,B'hamton,andN.Y. R.R. bonds, 26,236 50 27,750 00 

550 shares N. Y., N. H., and Hartf'd R.R. 84,152 75 87,450 00 

350 " American Nat'l Bank, Hartford, 23,324 50 22,050 00 

236 " Phoenix Nat'l Bank, Hartford . 36,254 00 36,108 00 
119 " Farmers' and Mechanics' Nat'l 

Bank, Hartford 17,593 00 14,042 00 

100 shares Mercantile Nat'l B'k, Hartford, 10,200 00 12,000 00 

435 " Hartford Nat'l Bank, Hartford, 66,628 50 66,120 00 

80 " First National Bank, Hartford, 8,062 38 8,640 00 

135 " Charter Oak Nat'l B'k, Hartf'd, 17,199 25 17,550 00 

169 " Nat'l Exchange B'k, Hartford, 10,Z21 50 11,492 00 

200 " Thames Nat'l Bank, Norwich . 24,600 00 26,000 00 

100 " Metropolitan Nat'l Bank, N.Y. 13,115 63 13,200 00 

200 " Am. Exchange Nat'l Bank, N.Y. 21,413 00 22,600 00 



1879.] OF OTHER STATES. 109 

Cost value. Market value. 

369 shares Merchants' Ex.Nat'l B'k, N.Y. $18,359 88 $13,837 50 
100 " Fourth National Bank, N.Y. . 9,530 00 10,600 00 
100 " First National Bank, Lafayette, 12,700 00 13,500 00 
100 " Atlas National Bank, Boston . 11,900 00 11,800 00 
100 " National Bank of the Common- 
wealth, Boston . 11,212 75 10,300 00 
350 shares Connecticut Trust and Safe De- 
posit Company, Hartford . . . 29,400 00 26,250 00 
120 shares Security Company, Hartford . 12,086 25 12,960 00 



$859,566 72 $862,359 50 



UNION MUTUAL LTFE INSURANCE COMPANY OF 
AUGUSTA, ME. 

[Incorporated July 17, 1848. Commenced business Oct. 1, 1849.] 

John E. DeWitt, President. Secretary, James P. Carpenter. 

Principal Office, 153 Tremont Street, Boston. 

Income. 

Total premium income $897,026 43 

Cash received for interest on stocks, bonds, and loans . 300,416 02 

for interest on other debts due the company, 5,419 37 

as discount on claims paid in advance . . 5,447 87 

for rents of company's property . . . 33,310 59 



Total income . . . . . . . . $1,241,620 28 

Net or ledger assets Dec. 31, 1878 . . $6,736,971 41 

Net appreciation 125,31119 

6,862,282 60 



Total $8,103,902 88 

Disbursements. 

Cash paid for losses and additions $399,872 59 

Premium notes or loans used in payment of same . . 24,993 44 

Cash paid for matured endowments and additions . . 271,95.0 00 

Premium notes or loans used in payment of same . . 70,319 00 



Gross amount paid for losses and endowments . .- $767,135 03 



110 



LIFE INSURANCE COMPANIES 



Casli paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 
Cash surrender values, including reconverted additions 

applied in payment of premiums .... 
Cash dividends paid policy-holders .... 
Premium notes or loans used in payment of dividends 
Reduction of premiums 

Total paid policy-holders ..... 

Cash paid for commissions to agents .... 

for medical examiner's fees 

for salaries of officers and office employes . 

for taxes and fees ..... 

for advertising ...... 

for incidentals 

Total disbursements ...... 

Balance ........ 



[Dec. 31, 

8110,962 83 

124,152 99 

179,906 03 

1,889 40 

108 00 

29,884 85 

$1,214,039 13 

131,742 07 

9,859 25 

66,594 17 

8,824 02 

20,418 21 

74,255 31 

$1,525,732 16 

$6,578,170 72 



Invested in the following: — 

Assets as per Ledger Accounts. 

Value of real estate ...... 

Loans on mortgage of real estate 

Loans on company's policies assigned as collateral 

Premium notes or loans on policies in force 

Stocks and bonds owned (schedule A) 

Cash in company's office . 

Cash deposited in bank 

Bills receivable ..... 

Agents' ledger balances 

Ledger assets (as per balance) . 



$2,268,828 52 

2,361,228 32 

1,119 89 

1,148,488 29 

622,267 61 

2,579 50 

161,167 83 

7,340 00 

5,150 76 

$,578,170 72 



Other Assets. 

Interest due and accrued 199,709 19 

Rents due and accrued ....... 4,995 89 

Uncollected premiums on policies in force . $30,807 07 
Deferred premiums on policies in force . 82,440 11 

Total $113,247 18 

Deduct loading (10 per cent) . . . 11,324 72 

Net am't of uncollected and deferred prems. 101,922 46 



Total assets per company's books 



i,884,798 26 



1879.] 



OF OTHER STATES. 



Ill 



Items not Admitted. 



Agents' balances 
Loans on personal security 
Total .... 

Total admitted assets . 



$5,150 76 
7,340 00 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) .... 
Deduct net value of re-insured risks ..... 

Net re-insurance reserve . . 
Premium obligations in excess of net values of their policies, 
Death losses due and unpaid . . . $4,100 00 

Matured endowments due and unpaid . 8,050 00 

Death losses and matured endowments in 

process of adjustment .... 122,159 80 

Claims resisted by the company . . 60,734 70 

Unpresented death claims .... 35,899 48 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders 

Premiums paid in advance 

All other liabilities ..... 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities ..... 



Premium Note Account. 



Premium notes on hand Dec. 31, 1878 
Premium notes received during 1879 . 

Total ....... 

Used in payment of losses and claims 
Used in payment of surrendered policies, 
and voided by lapse .... 

Used in payment of dividends to policy- 
holders 

Redeemed by maker in cash 

Total 

Balance note assets Dec. 31, 1879 



,272,917 73 
121,899 00 

$95,312 44 

124,152 99 

14,579 00 
12,284 01 



$12,490 76 

1,872,307 50' 



1,316,830 00 
2,420 00 

1,314,410 00 

875 00 



230,943 98 

5,127 08 

70,843 92 

8,270 55 

1,630,470 53 

241,836 97 

1,872,307 50 



,394,816 73 



- 246,328 44 
. $1,148,488 29 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 9,430 $19,668,024 00 

Endowment policies 4,795 .5,951,412 00 

All other policies 1,550 3,295,700 00 



112 LIFE INSURANCE COMPANIES [Dec. 31, 



New Policies issued in 1879. 







Number. 


Amount. 


Whole-life policies 


. 


546 


$732,567 00 


Endowment policies ..... 


• 


1,172 


1,979,029 00 


Old Policies revived during 


the Year. 


. 


Whole-life policies ..... 


. 


100 


280,500 00 


Endowment policies 


. 


21 


37,260 00 


All other policies ..... 


. 


1 


10,000.00 


Policies increased during the year 




499 


1,152,600 00 


Total number and amount . 


18,114 


$33,107,092 00 


Policies ceased to be in Force during 


the Yea? 




Terminated by death .... 




202 


$470,447 00 


by maturity . . . . 




236 


345,319 00 


by expiry .... 




460 


978,700 00 


by sui render .... 




806 


1,328,536 00 


by lapse ..... 




768 


1,462,339 00 


by change and decrease . 




499 


1,375,111 00 


Not taken 




228 


449,270 00 


Total terminated .... 


3,199 


$6,409,722 00 



Policies in Force Dec. 31, 1879. 

Whole-life policies 8,354 $16,868,001 00 

Endowment policies 5,025 6,555,269 00 

All other policies 1,536 3,274,100 00 



Totals 



. 14,915 $26,697,370 00 



Schedule A. 



Stocks and Bonds owned 



United States bonds . 
District of Columbia bonds 
Richmond city bonds 
Bangor city bonds 
Lewiston city bonds . 
Portland city bonds . 
New Bedford city bonds 
Toledo (O.) city bonds 
Cleveland city bonds . 
Chicago city bonds 
Wilmington (Del.) city bonds 
Chicago city bonds 



by the Company. 

Cost value. 

1276,715 00 

8,175 00 

10,250 00 

106,625 00 

20,775 00 

52,375 00 

25,587 50 

34,000 00 

64,600 00 

1,035 00 

5,000 00 

127 36 



Market value. 

$283,593 75 

8,600 00 

11,600 00 

110,000 00 

22,000 00 

55,000 00 

26,500 00 

34,000 00 

64,724 00 

1,010 00 

5,112 50 

127 36 



$605,264 86 



>22,267 61 



1879.] 



OF OTHER STATES. 



113 



UNITED STATES LIFE INSURANCE COMPANY OF 
NEW YORK, N.Y. 

[Incorporated February, 1850. Commenced business March 4, 1850.] 

Patd-up Capital, $250,000. 

James Buell, President. Secretary, C. P. Fraleigh. 

Income. 

Total premium income $639,518 63 

Cash received for interest on stocks, bonds, and loans . 265,295 95 

for interest on other debts due the company . 4,615 72 

as discount on claims paid in advance . . 1,663 50 

for rents of company's property . . • 3,218 80 

Total income . . . . . . . . $914,312 60 

Net or ledger assets Dec. 31, 1878 4,627,17125 

Total $5,541,483 85 



Disbursements. 

Cash paid for losses and additions 

Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies 

paid for surrendered additions to policies 
dividends paid policy-holders, applied in payment of 
premiums .... 

Total paid policy-holders . 
Cash paid for dividends to stockholders 

for commissions to agents . 

for salaries and travelling expenses of agents 

for medical examiners' fees 

for salaries of officers and office employes 

for taxes and fees 

for rent 

for advertising . 

for incidentals . 
Profit and loss . 

Total disbursements . 



Balance 



$229,686 49 
61,049 28 

$290,735 77 
3,500 00 

$287,235 77 

216,970 76 

40,580 46 

39,901 58 

$584,688 57 
28,927 50 
72,150 27 
10,882 67 

8,635 29 
45,088 60 

7,522*93 
10,648 87 
13,310 43 
41,890 42 

3,514 67 

$827,260 22 
$4,714,223 63 



15 



114 



LIFE INSURANCE COMPANIES [Dec. 31, 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) . 
Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office 
Cash deposited in bank 
Bills receivable . ... 
Agents' ledger balances 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets 

Other Assets. 

Interest due and accrued ....... 

Market value of stocks and bonds over cost 

Uncollected premiums on policies in force . $50,352 37 

Deferred premiums on policies in force . 74,926 67 

Total . . . . . . 1125,279 04 

Deduct loading (10 per cent) . . 12,527 90 

Net am't of uncollected and deferred prems 

Total assets per company's books 



$167,138 04 

1,923,874 54 

460,000 00 

101,908 97 

1,976,559 14 

618 63 

54,236 15 

16,246 26 

13,641 90 

$4,714,223 63 

12,788 04 

$1,701,435 59 



71,266 72 
97,773 36 



112,751 14 

$4,983,226 81 



Items not Admitted. 



Agents' balances 
Bills receivable . 

Total .... 

Total admitted assets . 



$13,641 90 
16,246 26 



29,888 16 
:,953,338 65 



Liabilities. 

Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks . 

Net re-insurance reserve 
Death losses and matured endowments in process of ad 

justment ..... 

Premiums paid in advance 
Liability on lapsed policies 
All other liabilities .... 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities .... 



$4,363,417 00 
35,964 00 

$4,327,453 00 

83,695 00 
2,992 84 
5,903 00 
3,314 91 

$4,423,358 75 
529,979 90 

$4,953,338 Go 



1879.] 



OF OTHER STATES. 



115 



Premium Note Account. 

Premium notes on hand Dec. 31, 1878 . $126,638 91 
Premium notes received during 1879 . . 18,741 05 

Total ....... $145,379 96 

Used in payment of losses and claims; of surrendered poli- 
cies, and voided by lapse; of dividends to policy-holders; 
and redeemed by maker in cash 43,470 99 

Balance note assets Dec. 31, 1879 .... $101,908 97 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies . . . . . . 7,951 $14,620,851 00 

Endowment policies 1,696 2,433,584 00 

All other policies . . . . . . 270 664,020 00 



New Policies issued in 1879. 



Whole-life policies 
Endowment policies . 
All other policies 



Old Policies revived during the Year. 



Whole-life policies 
Endowment policies . 
All other policies 



Old Policies increased during the Year 



Whole-life policies 
Endowment policies . 

Total number and amount . 



1,034 

249 
o 


2,746,630 00 

423,060 00 

7,000 00 


Tear. 
32 
4 
2 


64,100 00 

13,000 00 

2,000 00 


Year. 




9 
5 


58,500 00 
33,130 00 



11,254 $21,065,875 00 



Policies ceased to be in Force during the Year. 



Terminated by death 


128 


$265,125 00 


by maturity . 


27 


59,153 00 


by expiry 


. . . 2 


7,000 00 


by surrender . 


333 


746,240 00 


by lapse .... 


812 


1,844,750 00 


by change and decrease . 


13 


150,920 00 


Not taken 


228 


1,002,500 00 


Total terminated . 


. 1,543 


$4,075,688 00 



Policies in Force Dec. 31, 1879. 

Whole-life policies ...... 7,839 $14,175,92i 00 

Endowment policies 1,642 2,233,996 00 

All other policies 230 580,270 00 



Totals . 



9,711 $16,990,187 00 



116 



LIFE INSURANCE COMPANIES [Dec. 31, 



Schedule A. 

Securities held <is Collateral. 



Dry Dock, East Broadway, and Battery 

Railroad consolidated mortgage bond 
Bend and mortgage, Englewood, N.J. 
United States bonds ..... 
1,200 shares Western Union Telegraph Co. 
1,200 " Lake Shore and Mich. So. R.R. 

400 " N.Y. Cent, and Hudson R. R.R. 
1,067 " Western Union Telegraph Co. 

900 " Lake Shore and Mich . So . R . R . 

400 " N.Y. Cent, and Hudson R. R.R. 

100 " Lake Shore and Mich. So. R.R. 



Market value. Amount loaned. 

$1,100 

5,000 

4,378 

123,000 

120,000 

51,600 
109,367 

90,000 

51,600 

10,000 



00 


$800 00 


00 


5,000 00 


00 


4,200 00 


00 > 
00 ) 


200,000 00 


00 \ 
50 £ 




200,000 00 


00 ) 




00) 

oof 


50,000 00 









$566,045 50 


$460,000 00 


•Schedule E 






Stocks and Bonds owned by 


' the Company. 






Cost value. 


Market value. 


United States bonds . 


$204,800 00 


$186,6S7 50 


District of Columbia bonds 






149,044 99 


173,500 00 


New York city bonds 






186,554 17 


203,540 00 


New York county bonds 






386,472 50 


410,867 50 


Brooklyn city bonds . 






336,545 43 


372,455 00 


Kings county bonds . 






56,562 50 


58,175 00 


Buffalo city bonds 






150,170 00 


158,675 00 


Erie county bonds 






25,000 00 


29,500 00 


Richmond county bonds 






2,562 50 


2,525 00 


East Chester town bonds . 






13,896 56 


13,972 50 


West Chester town bonds . 






12,600 00 


13,080 00 


White Plains town bonds . 






5,150 00 


5,125 00 


West Farms town bonds . 






12,555 60 


12,720 00 


Morrisania town bonds 






18,938 00 


18,810 00 


Rochester city funding loan 






33,900 00 


35,400 00 


Jersey City bonds 






206,957 50 


192,860 00 


Chicago city bonds 






50,000 00 


53,000 00 


South Nor walk water fund 






100,000 00 


108,000 00 


Missouri state bond . 






18,666 oQ 


19,080 00 


New York and Erie R.R. 3d mort£ 


;age I 


>onds 


6,182 83 


6,360 00 



,976,559 14 $2,074,332 50 



1879.] 



OF OTHER STATES. 



117 



VERMONT LIFE INSURANCE COMPANY OF BURLINGTON, 

VERMONT. 

[Incorporated Oct. 28, 1868. Commenced business Jan. 1, 1869.] 

Paid-up Capital, $100,000. 

James R. Hosmer, President. Secretary and Actuary, Warren Gibbs. 



Income. 
Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 
Cash received for rents of company's property . 

Total income ....... 

Net or ledger assets Dec. 31, 1878 .... 



Total 



$23,450 30 

10,248 29 

268 75 



Disbursements. 



Cash paid for losses and additions 

Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse . 
Cash surrender values, including reconverted additions 

applied in payment of premiums . 
Cash dividends paid policy-holders, applied in payment of 

premiums ...... 



Total paid policy-holders 
Cash paid for dividends to stockholders 
for commissions to agents . 
for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees 
for rent 

for furniture and office fixtures 
for advertising 
for incidentals 

Total disbursements 



Balance $205,669 75 



$33,967 34 
195,556 09 

$229,523 43 



$1,000 00 
1,400 00 

$2,400 00 

453 19 

20 21 

2,613 10 



$5,486 


50 


6,000 


00 


2,329 


86 


1,304 


19 


314 


50 


5,257 


01 


371 


11 


749 00 


74 23 


479 


92 


1,487 


36 


$23,853 68 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) . 

on company's policies assigned as collateral 



$13,550 00 

110,112 61 

22,400 00 

375 00 



118 



LIFE INSURANCE COMPANIES [Dec. 31, 



Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 
Cash deposited in bank ..... 
Bills receivable ....... 

Ledger assets (as per balance) 



$5,914 50 

36,451 50 

5,118 97 

11,604 64 

142 53 

$205,669 75 



Other Assets 

Interest due and accrued . 

Rents due and accrued 

Market value of real estate over cost . 

Market value of stocks and bonds over cost 

Uncollected premiums on policies in force 

Deferred premiums on policies in force 

Total 

Deduct loading . . ... 

Net am't of uncollected and deferred prems 

Furniture and fixtures 

Total assets per company's books 



$4,490 65 
2,591 46 

$7,082 11 
1,199 46 



2,139 60 

81 25 

450 00 

1,330 50 



5,882 65 
1,500 00 

. $217,053 75 



Items not Admitted. 



Office furniture, etc. . 
Bills receivable . 
Total . 

Total admitted assets 



$1,500 00 
142 53 



1,642 53 
$15,411 22 



Liabilities. 

Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks 



Net re-insurance reserve 
Claims resisted by the company . 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities . 



Exhibit of Policies 
Policies and Additions in Force Dec. 31, 1878. 

Number. 

Whole-life policies 415 

Endowment policies ...... 124 

All other policies ...... 50 



$110,814 00 
1,216 00 

$109,598 00 
2,000 00 

$111,598 00 
103,813 22 

$215,411 22 



Amount. 

$805,441 00 

176,06S 00 

79,991 00 



1879.] 



OF OTHER STATES. 



119 



New Policies issued in 1879. 



Whole-life policies . 

Endowment policies ... * 

All other policies 

Whole-life policies revived during th< 


Number. 

58 

15 

2 

i year . 1 

665 $ 


Amount. 

$81,226 00 

14,681 00 

6,000 00 

1,000 00 


Total number and amount . 


1,164,407 00 


Policies ceased to be in . 


Force during the Year. 




Terminated by death 

by maturity . 

by surrender . 

by lapse 

by change and decrease 
Not taken 


1 

2 
6 

84 

. . 6 
99 


$1,000 00 
1,400 00 

15,000 00 

173,500 00 

2,000 00 

12,500 00 


Total terminated 


$205,400 00 


Policies in Force 


Dec. SI, 1879. 




Whole-life policies . 
Endowment policies . 
All other policies . 


390 

124 

52 

566 


$701,167 00 

171,849 00 

85,991 00 


Totals 


$959,007 00 


Industrial policies in force 


. 1,115 


$140,793 00 


SCHEDVJ 


LE A. 




Securities held 


as Collateral. 




United States bonds . 
36 shares Merchants' National Bank 
30 " Howard National Bank 
50 " Howard National Bank 
50 " Vermont National Bank 
10 " National Car Company 
70 " National Car Company 
84 " Burlington Gas-Light Com] 


Market value. 

$1,000 00 
1,800 00 > 
3,000 00 > 
5,000 00 
5,000 00 
1,000 00 
7,000 00 ) 
mny . 2,100 00 > 


Amount loaned. 

$1,000 00 
4,400 00 

5,000 00 

5,000 00 

500 00 

6,500 00 




$25,900 00 


$22,400 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. 

Burlington city bonds .... $11,76000 

255 shares Merchants' National Bank . 11,641 50 

100 " Howard National Bank . . 10,000 00 

122 " Burlington Gas-Light Company, 3,050 00 



Market value. 

$11,982 00 

12,750 00 

10,000 00 

3,050 00 



$36,451 50 $37,782 00 



120 



LIFE INSURANCE COMPANIES [Dec. 31, 



WASHINGTON LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated January, 1860. Commenced business Feb. 2, I860.] 

Paid-up Capital, $125,000. 

W. A. Brewer, Jun., President. 

Vice-President and Secretary, W. Haxtun. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance . 
for profits on bonds sold 

Total income ....... 

Net or ledger assets Dec. 31, 1878 .... 



$965,382 75 

278,966 69 

7,529 16 

11,104 54 

1,935 24 

51,264,918 38 
5,253,287 21 



Total $6,518,205 59 



Disbursements. 

Cash paid for losses and additions .... 
Cash paid for matured endowments and additions 

Gross amount paid for losses and endowments 
Cash paid to annuitants ...... 

paid for surrendered policies .... 

surrender values, including reconverted additions ap 

plied in payment of premiums 
dividends paid policy-holders, applied in payment of 
premiums ....... 

. Total paid policy-holders ..... 

Cash paid for dividends to stockholders 

for commissions to agents .... 

for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for advertising ...... 

for loss on sale of investments . 

for incidentals ...... 

Total disbursements ...... 

Balance ........ 



$328,057 10 
172,588 01 

$500,645 11 

2,218 26 

272,932 15 

1,644 23 

197,067 00 

$974,506 75 

8,636 25 

49,138 41 

15,061 61 

6,705 20 

42,819 35 

7,115 12 

6,750 00 

25,716 14 

6,509 30 

17,190 64 

29,832 10 

1,189,980 87 

5,328,224 72 



1879.] 



OF OTHER STATES. 



121 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 
Loans on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule A) 
Cash in company's office ..... 

Cash deposited in bank 

Agents' ledger balances ..... 

Ledger assets (as per balance) . 



8456,786 11 

2,548,772 02 

27,583 37 

2,039,266 30 

4,246 32 

238,184 23 

13,386 37 

$5,328,224 72 



Other Assets. 
Interest due and accrued . . ... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force . 
Deferred premiums on policies in force 



$33,589- 08 
103,619 15 



41,375 35 
125,908 70 



Total $137,208 23 

Deduct loading (20 per cent) . . . 27,441 64 

!Net am 't of uncollected and deferred prems. 109,766 59 



Total assets per company's books 



$5,605,275 36 



Items not Admitted. 



Agents' balances 

Total admitted assets 



13,386 37 
. $5,591,888 99 



Liabilities. 

Computed premium reserve or net present value of all out- 



standing policies (Actuaries' 4 per cent) 
Death losses due and unpaid 
Matured endowments due and unpaid 
Death losses and matured endowments in 

process of adjustment . . . 
Claims resisted by the company . 

Total policy claims 
Unpaid dividends due stockholders . 
Due for salaries, rent, and office expenses 
Premiums paid in advance 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities .... 
10 



. $4,914,808 00 



^21,313 44 
2,461 90 

40,306 01 
21,166 09 



85,247 44 

288 75 

1,708 32 

12,900 03 

. $5,014,952 54 
576,936 45 

. $5,591,888 99 



122 LIFE INS. COS. OF OTHER STATES. [Dec. 31,79. 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1878. 

Number. Amount. 

Whole-life policies 7,857 $17,032,847 00 

Endowment policies 2,082 3,415,385 00 

All other policies ...... 8 - 

Reversionary additions ..... - 707,564 00 

New Policies issued in 1879, 

Whole-life policies 987 1,913,905 00 

Endowment policies 335 574,210 00 

All other policies ...... 4 - 

Old Policies revived during the Year. 

Whole-life policies 87 234,000 00 

Endowment policies 19 32,400 00 

Additions by dividends - 409,775 00 



Total number and amount .... 11,379 $24,380,086 00 
Policies ceased to be in Force during the Year. 



Terminated by death 


. 


110 


$316,054 00 


by maturity . 


. 


89 


174,516 00 


by expiry 


. 


1 


- 


by surrender . 


. 


358 


1,189,392 00 


by lapse . 


. 


462 


907,950 00 


Not taken .... 


. 


220 


344,900 00 



Total terminated 1,240 $2,932,812 00 

Policies in Force Dec. 31, 1879. 

Whole-life policies 8,011 $17,190,962 00 

Endowment policies 2,118 3,471,325 00 

All other policies ...... 10 - 

Reversionary additions - 784,987 00 



Totals 10,139 $21,447,274 00 

Schedule A. 
Stocks and Bonds owned by the Company. 

Cost value. Market value. 

United States bonds $659,670 00 $634,675 00 

New York city bonds .... 983,54229 1,103,50000 

Brooklyn city bonds 391,998 63 422,000 00 

Kingston city bonds 4,055 38 5,000 00 



$2,039,266 30 $2,165,175 00 



ACCIDENT INSURANCE COMPANIES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1879. 



124 



ACCIDENT INSURANCE COS. [Dec. 31, 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



HARTFORD STEAM-BOILER INSPECTION AND INSURANCE 
COMPANY, HARTFORD, CONN. 

[Incorporated June, 1866. Commenced business October, 1866.] 

Paid-up Capital, $200,000. 

J. M. Allen, President. Secretary, J. B. Pierce. 



Detailed Statement of Stocks 



Connecticut state bonds 

United States bonds . 

Evansville (Ind.) city bonds 

Urbana (111.) township bonds 

Peoria (111.) township bonds 

Peoria (111.) county bonds . 

Dayton and Western Railroad bonds 
50 shares City National Bank . 
13 " Hartford National Bank 
50 " Security Company 



100 



N. Y., N. H., and Hartf'd R.R 



, Bonds, Etc 

Par value. 

$70,000 00 

46,000 00 

10,000 00 

4,000 00 

5,000 00 

5,000 00 

15,000 00 

5,000 00 

1,300 00 

5,000 00 

10,000 00 



Market value. 

$74,900 00 

46,920 00 

10,000 00 

4,000 00 

5,000 00 

5,250 00 

14,625 00 

4,400 00 

1,950 00 

5,500 00 

16,000 00 



$176,300 00 $188,545 00 



Summary of Assets Dec. 

Cash value of unencumbered real estate 
Loans on mort. of real estate (first liens *) 
Interest due or accrued thereon . 
Stocks, bonds, etc., as per schedule . 
Cash in the office of the company 
Cash deposited in Conn. River Banking Co. 
Interest due and accrued . 
Premiums in course of collection (gross) 
Gross assets .... 



31, 1879. 

' $4,778 69 

76,400 00 

1,913 37 

188,545 00 

168 77 

15,575 99 

3,507 90 

23,570 19 



$314,459 91 



* Value of lands mortgaged 
Value of buildings thereon 
Amount of insurance held as collateral 



$245,117 00 
43,695 00 
15,100 00 



1879.] 



OF OTHER STATES. 



125 



$6,225 00 

60,749 47 

26,035 49 

375 00 



Liabilities 

Losses claimed and reported 
Unearned premiums on outstanding risks 
"Net reserve under Inspection Department 
Due and accrued for rent, salaries, etc. 
Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital 



Surplus over capital ...... 

Income. 

Cash received for premiums and inspections 
Deduct re-insurance and return premiums . 

Net cash received for premiums and inspections . 
Interest received on bonds and mortgages . 
Interest and dividends received from all other sources 

Gross cash income 

Expenditures. 

Cash paid for losses ...... 

dividends paid 

paid for commissions and brokerage . 

for salaries of officers and employes . 

for state and local taxes 

for incidentals ..... 

Gross cash expenditures .... 
Risks and Premiums. 



Risks outstanding Dec. 31, 1878 
Risks written during 1879 . 

Total 

Deduct risks expired and terminated 



. 113,053,534 00 
. 15,107,715 00 

. $28,161,249 00 
. 13,528,947 00 



$93,384 96 

$221,074 95 
200,000 00 

$21,074 95 



$180,761 23 
6,855 79 

$173,905 44: 

5,017 08 

11,159 02 

$190,081 54 



$7,787 06 

20,000 00 

46,752 10 

11,833 28 

2,493 39 

80,533 21 

$169,399 04 



Premiums. 

$110,942 49 
125,300 00 

$236,242 49 
114,743 55 



In force at end of year 



. $14,632,302 00 $121,498 94 



Miscellaneous. 
Premiums received from organization of company 
Losses paid from organization of company 
Cash dividends declared from organization of company 
Dividends declared during the year (10 per cent) 
Losses incurred during the year .... 

Company's stock owned by directors .... 



$1,623,501 80 

108,167 63 

157,250* 00 

20,000 00 

11,207 24 

36,140 00 



126 



ACCIDENT INSURANCE COS. [Dec. 31, 



Massaciiusktts Business. 
Risks written during- 1S79 
Premiums received (gross) 
Received for inspections 
Losses paid 
Losses incurred . 



$1,342,484 00 

10,339 76 

7,002 76 

162 04 

172 39 



KNICKERBOCKER CASUALTY INSURANCE COMPANY, 
NEW YORK, N.Y.* 

[Incorporated March 20, 1876. Commenced business May 1, 1876.] 

Paid-up Capital $100,000. 

William M. Richards, President. Secretary, John W. Crane. 



Summary of Assets Dec. 

United States bonds .... 
Cash in the office of the company 
Cash deposited in bank 
Interest due and accrued . 
Premiums in course of collection (gross) 
Agents' balances . . . $1,851 20 
Gross assets .... 



Losses adjusted, unpaid 

Unearned premiums on out- ! Steam-boiler 



Liabilities 

f Plate-glass 



standing risks 



i 



Accident 
[ Fidelity 
Due and accrued for rent, salaries, etc. 
Gross liabilities, except capital . 

. Surplus as regards policy-holders 
Paid-up capital ..... 

Surplus over capital . 

Income. 
Cash received for plate-glass risks 
Deduct re-insur'ce, rebate, and return prems 

Net cash received for plate-glass risks 
Cash received for boiler risks 
Deduct re-insur'ce, rebate, and return prems 

Net cash received for boiler risks 
Cash received for accident risks 
Deduct re-insur'ce, rebate, and return prems 

Net cash received for accident risks 



31, 1879. 

$120,465 00 

1,288 39 

• 13,700 13 

127 16 

10,839 50 



$1,524 45 
12,532 34 

4,653 23 

15,268 91 

362 50 

1,239 92 



$26,552 05 
1,665 58 



$7,860 93 
172 39 



^28,854 31 
628 54 



$146,420 18 



35,581 35 

$110,838 83 
100,000 00 

$10,838 83 



$24,886 47 

7,688 54 

28,225 77 



* The name of this company has been changed since Jan. 1, 1880, to " Fidelity and Casu- 
alty Company of New York." 



1879.] 



OF OTHER STATES. 



127 



Cash received for Fidelity risks . . 

Interest and dividends received from all sources 

Income from all other sources . . ... 

Gross cash income . . . . ... 

Expenditures. 

Cash paid for plate-glass risks . . . $12,031 62 
Deduct salvage . . . . . . 2,349 16 

Net cash paid for plate-glass risks 
Cash paid for steam-boiler risks 

for accident risks 

for commissions and brokerage 

for salaries of officers and employes 

for state and local taxes and fees 

for office and incidental expenses 

Gross cash expenditures 

Risks and Premiums 

Number. 

Plate-glass risks outstanding Dec. 31, 1878 . 1,582 

Plate-glass risks written during 1879 . . . 2,473 

Total 4,055 

Deduct risks expired and terminated . . . 2,170 

In force at end of year .... 1,885 

Boiler risks outstanding Dec. 31, 1878 . . 370 

Boiler risks written during 1879 . . . 707 

Total 

Deduct risks expired and terminated . 

In force at end of year 

Accident risks outstanding Dec. 31, 1878 
Accident risks written during 1879 

Total 

Deduct risks expired and terminated . 

In force at end of year 

Fidelity risks in force 

Massachusetts Business. 
Risks written during 1879 ..... 

Premiums received . . . 

Losses incurred ....... 

Losses paid ....... 



$725 00 

12,789 59 

23 86 

$74,339 23 



$9,682 46 
28 00 

9,025 11 
14,282 72 
13,486 93 

1,048 03 
14,795 27 

$62,348 52 



Amount. 

$775,035 00 

1,210,031 00 

^1,985,066 00 

1,113,873 00 

$871,193 00 

$618,723 00 

1,271,077 00 



.1,077 $1,889,800 00 
512 1,007,680 00 



565 $882,120 00 

1,576 $3,621,824 00 
5,273 12,668,744 00 



6,849 $16,290,568 00 
4,847 11,179,429 00 



2,002 $5,111,139 00 



12 



t5,000 00 



$309,514 00 

1,684 97 

279 53 

279 53 



128 



ACCIDENT INSURANCE COS. [Dec. 31, 



METROPOLITAN PLATE-GLASS INSURANCE COMPANY, 

NEW YORK. 

[Incorporated April 22, 1874. Commenced business April 23, 1S74.] 

PAiD-ur Capital, $100,000. 

Henry Harteau, President. Secretary, Thomas S. Thorp. 

Summary of Assets Dec. 31, 1879. 

United States bonds ..... $122,017 50 

Cash in the office of the company . . 446 62 

Cash deposited in various banks . . 8,514 71 

Interest due and accrued .... 431 25 

Premiums in course of collection (gross) . 3,386 62 

Glass on hand, salvage, etc. . . . 4,176 52 
Agents' balances . . . $1,645 99 
Prems. more than 3 months due, 945 56 
Gross assets .... 

Liabilities 

Losses claimed and reported 
Unearned premiums on outstanding risks 
Due and accrued for rent, salaries, etc. 
Commissions and brokerage 

Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital ..... 



$139,003 22 



S893 88 

25,697 20 

1,276 17 

424 83 



Surplus over capital .... 

Income. 

Cash received for premiums 

Deduct re-insurance and return premiums . 

Net cash received for premiums . 
Interest and dividends received from all sources 

Gross cash income .... 



28,292 08 

$110,711 14 
100,000 00 

$10,711 14 



$58,037 84 
6,384 24 



$51,653 60 
5,203 42 

$56,857 02 



Expenditures. 

Cash paid for losses $21,044 42 

Deduct salvage and re-insurance . . 5,544 64 

Net cash paid for losses 

Cash dividends paid .... 

paid for commissions and brokerage 

paid for salaries of officers and employes . 

Gross cash expenditures .... 



$15,499 78 

10,000 00 

10,923 52 

14,775 63 

$51,198 93 



1879.] 



OF OTHER STATES. 



129 



v Risks and Premiums. 

'Premiums. 

Risks outstanding Dec. 31, 1878 . . $1,708,868 00 $50,221 70 

1,817,438 00 56,400 04 



Risks written during 1879 . 

Total . 
Deduct risks expired and terminated 

In force at end of year 



$3,526,306 00 $106,621 74 
1,875,722 00 55,227 34 



.,650,584 00 $51,394 40 



Miscellaneous. 

Premiums received from organization of company . . $280,326 00 

Losses paid from organization of company . . . 77,210 00 

Cash dividends declared from organization of company . 37,000 00 

Dividends declared during the year (10 per cent) . . 10,000 00 

Losses incurred during the year ..... 21,005 77 

Company's stock owned by directors ..... 53,000 00 

Massachusetts Business. 

Risks written during 1879 . $159,072 28 

Premiums received (gross) 5,010 69 

Losses paid 1,590 62 

Losses incurred 1,665 82 



MUTUAL BOILER INSURANCE COMPANY OF BOSTON, 

BOSTON. 

[Incorporated April 13, 1877. Commenced business June 1, 1877.] 

C. C. Walworth, President. Secretary, F. Ernest Cabot. 

Office, Room 58 Simmons Building. 

Summary of Assets Dec. 31, 1879. 
Cash in the office of the company 
Cash deposited in Third National Bank 
Premiums in course of collection (gross) . 
Corporation notes ..... 

Due for inspection 

Test gauges, etc 

Premium notes liable to assessment, $36,471 40 
Gross assets 



. $27 50 


388 


39 


. 362 


00 


. 3,126 


63 


43 


50 


200 00 
) 



Liabilities. 
Unearned premiums on outstanding risks . . $3,542 95 
Due and accrued for rent, salaries, and incidentals, 492 64 
Gross liabilities 



Surplus 



:,148 02 



4,035 59 
$112 43 



17 



130 



ACCIDENT INSURANCE COS. [Dec. 31, 



Income. 

Cash received for premiums 

Deduct re-insurance and return premiums 
Net cash received for premiums . 
Income from inspections . 
Deposit notes received during the year 

Gross cash income 



Expenditures. 
Cash paid for salaries and fees . 
for state and local taxes 
for rent 
for incidentals . 

Gross cash expenditures 

Miscellaneous. 
Risks outstanding Dec. 31, 1878 
Risks written during 1879 . 

Total 

Deduct risks expired and terminated 

In force at end of year 

Deposit notes received on outstanding risks 



Massachusetts Business. 
Risks written during the year 
Premiums received ...... 

Deposit notes received . . . . 



. $7,621 84 
385 92 



138,109 20 



$7,235 92 
70 00 



$7,305 92 



$4,874 88 


80 22 


600 00 


1,766 97 



$7,322' 07 

$1,209,240 00 
899,740 00 

$2,108,980 00 
1,250,840 00 

$858,140 00 

$36,471 40 



$636,040 00 

5,762 72 

28,813 60 



TRAVELERS' INSURANCE COMPANY (ACCIDENT DEPART- 
MENT) OF HARTFORD, CONN. 

[Incorporated June 17, 1863. Commenced business April 1, 1864.] 

Paid-up Capital, $600,000. 

James G. Batterson, President. Secretary, Rodney Dennis. 



Income. 
Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 

as discount on claims paid in advance 

for rents on company's property . 

Total income ...... 

Net or ledger assets Dec. 31, 1878 

Total 



$992,046 70 

65,417 27 

1,174 42 

298 01 

627 00 

$1,059,563 40 
1,198,014 65 

$2,257,578 05 



1879.] 



OF OTHER STATES. 



131 



Disbursements. 

Cash paid for losses and additions . 
for dividends to stockholders 
for commissions to agents .... 
for salaries and travelling expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rent 

for furniture and office fixtures . 

for advertising ...... 

for incidentals ...... 

Total disbursements ...... 

Balance . . . . 

Invested in the following: — 

Assets as per Ledger Account. 

Cost value of real estate .... 

Loans on mortgage of real estate (first liens) 

Loans on collateral security (schedule A) . 

Cost value of stocks and bonds owned (schedule B) 

Cash in company's office . 

Cash deposited in bank .... 

Bills receivable ...... 

Agents' ledger balances .... 



Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets .... 

Other Assets. 
Interest accrued ...... 

Total assets per company's books 

Items not Admitted. 

Agents' balances ..... 

Bills receivable 

Total 

Total assets of Accident Department . 
Total assets of Life Department 

Gross assets 



$395,678 30 

72,000 00 

229,468 72 

102,514 88 

10,283 11 

55,774 32 

14,380 10 

11,693 75 

158 63 

21,567 90 

47,321 06 

$960,840 77 

$1,296,737 28 



$33,659 96 
182,150 00 

1,500 00 
864,812 92 

1,033 92 

186,137 18 

19,888 35 

7,554 95 



$1,296,737 28 
24,389 88 

$1,272,347 40 



3,979 44 



. $1,276,326 84 

$7,554 95 
19,888 35 




" • 1 -"" 




• 


. $1,248,883 
. 3,707,106 


54 

88 



. $4,955,990 42 



132 



ACCIDENT INSURANCE COS. [Dec. 31, 



Liabilities 
Premium reserve on account of accident r 

Dec. 31, 1879. 
Death losses due and unpaid 
Claims in process of adjustment 
Claims resisted by the company 

Total policy claims 
Due for salaries, rent, and office expenses 



sks outstanding 

$500 00 

109,250 00 

15,000 00 



$268,694 66 



124,750 00 
10,000 00 



Liabilities as to policy-holders in Accident Department, $403,444 66 
Liabilities as to policy-holders in Life Department . . 3,253,766 00 

Gross liabilities ....... 

Surplus as regards policy-holders 

Exhibit of Policies. 

Number. Amount. 

Accident policies in force Dec. 31, 1878 . . 37,454 $94,516,50100 
New policies issued in 1879 .... 54,540 124,731,930 00 



$3,657,210 66 
$1,298,779 76 



Total . 



91,994 $219,248,431 00 



Policies ceased to be in Force during the Year. 

Terminated by death 101 $199,250 00 

Terminated by expiry 43,411 104,638,143 00 



Total terminated 

Policies in force Dec. 31, 1879 



43,512 $104,837,393 00 



. 48,482 $114,411,038 00 



Schedule A. 
Securities held as Collateral. 

Market value. 

5 shares Phcenix Insurance Company . $1,125 00 

22 " N. Y., N. H., and Hartford R.R. 3,498 00 



Amount loaned. 

$500 00 
1,000 00 



:,623 00 $1,500 00 



Schedule 

Stocks and Bonds owned 

United States bonds . 

Connecticut state bonds 

Tennessee state bonds 

Virginia state bonds . 

Johnson county (111.) bonds 

Wayne county (111.) bonds 

White county (111.) bonds . 

Elizabeth city bonds . 

Chicago water loan bonds . 

Norwich city bonds . 

Indianapolis and Cincinnati R.R. bonds 



B. 



by the Company. 

Cost value. 

$270,664 50 

17,754 66 

26,677 50 

15,109 50 

20,617 73 

4,473 75 

8,060 44 

9,593 33 

29,950 00 

10,300 00 

12,090 00 



Market value. 

$266,650 00 

18,140 00 

9,780 00 

15,050 00 

21,560 00 

4,850 00 

8,330 00 

3,800 00 

33,900 00 

10,400 00 

13,260 00 



1879.] 



OF OTHER STATES. 



133 



Chicago and North- Western R.R. bonds 
Dubuque and Sioux City R.R. bonds 
450 shares N. Y., X. H , and Hartford R.R 
100 " Chicago, R. I., and Pacific R.R 
200 " Chicago, Burl., and Quincy R.R 
250 " American National Bank . 
420 " City National Bank . 
264 " Phoenix National Bank 
181 " Farmers' & Mechanics' Nat'l B'k 
146 " ^Etna National Bank 
100 " Mercantile National Bank . 
340 " Hartford National Bank . 
850 " National Exchange Bank . 
100 " New Britain National Bank 
100 " Nassau National Bank , 
233 " Hartford Trust Company . 
500 " Adams Express Co. . 



Cost value. 

$10,312 50 
10,400 00 
72,223 75 
12,000 00 
22,850 00 
13,782 50 
38,447 75 
35,412 50 
22,822 88 
17,799 87 
9,982 00 
54,045 13 
23,137 01 
11,500 00 
11,000 00 
21,177 50 
52,028 12 



Market value. 

111,000 00 
11,200 00 
71,550 00 
14,900 00 
25,200 00 
15,750 00 
35,700 00 
40,392 00 
21,358 00 
17,228 00 
12,000 00 
51,680 00 
23,800 00 
12,500 00 
8,400 00 
19,805 00 
52,500 00 



1864,812 92 $850,683 00 



Massachusetts Business. 
Risks written during 1879 ..... 

Premiums received . . 

Losses incurred ....... 

Losses paid ....... 



$10,910,550 00 
76,868 36 
37,649 85 
19,649 85 



UNITED STATES PLATE-GLASS INSURANCE COMPANY, 
PHILADELPHIA, PENN. 

[Incorporated April 12, 1867. Commenced business August, 1867.] 

Paid-up Capital, $100,000. 

Joseph S. Chahoon, President. Secretary, Isaac Rindge. 

Detailed Statement of Stocks, Bonds, Etc. 
Securities held as collateral for cash loans : — 

Market value. Loaned thereon. 

271 shares Gas and Water Company of 
Downington ...... 



$13,550 00 $13,550 00 



Summary of Assets Dec. 31, 1879. 

Cash value of /unencumbered real estate . $30,317 00 

Loans on mort. of real estate (first liens *) . 52,000 00 

Loans on collateral security, as per schedule, 13,550 00 



* Total value of property mortgaged 
Amount of insurance held as collateral 



$102,500 00 
20,500 00 



134 



ACCIDENT INSURANCE COS. [Dec. 31, 



Cash in the office of the company 
Cash deposited in bank 
Interest due and accrued . 
Premiums in course of collection (gross) 

Personal loans 

Ground rent ..... 
Rents due and accrued 
Glass on hand, etc. .... 
Company's stock . . $20,000 00 

Gross assets .... 





$1,302 88 






1,570 12 






919 90 






1,456 72 






872 05 






414 50 






842 00 




A 


5,710 93 




\J 




$108,986 10 



Liabilities 

Losses adjusted, unpaid . . . 

Unearned premiums on outstanding risks 

Due and accrued for rent, salaries, etc. 

Due for borrowed money . 

State and local taxes .... 

Commissions and brokerage 

Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital 

Impairment of capital 



$37 07 

5,824 57 

3,364 83 

2,406 00 

405 17 

135 52 



12,173 16 

$96,812 94 
100,000 00 

$3,187 06 



Income. 

Cash received for premiums . . . $12,683 68 
Deduct re-insurance and return premiums . 422 28 

Net cash received for premiums . . $12,261 40 

Interest received on bonds and mortgages .... 3,789 75 

Interest and dividends received from all other sources . 364 21 

Income from rents ........ 2,656 93 

Income from setting glass . . . . . . . 691 50 

Gross cash income ....... $19,763 79 



Expenditures. 

Cash paid for losses ..... 

Deduct salvage and re-insurance 
Net cash paid for losses 

Cash paid for commissions and brokerage . 

for salaries of officers and employes 
for state and local taxes 
for rents ..... 
for interest and ground rents 

Gross cash expenditures 



$3,876 84 
959 92 



$2,916 92 
2,297 43 
8,804 96 
46 72 
1,880 00 
1,029 67 

$16,975 70 



1879.] 



OF OTHER STATES. 



135 



Risks and Premiums. 

Premiums. 

Risks outstanding Dec. 31, 1878 . . $272,512 00 $11,170 62 

324,106 56 12,660 13 



Risks written during 1879 . 



Total 

Deduct risks expired and terminated 

In force at end of year 



$596,618 56 $23,830 75 
306,360 06 12,181 62 



$290,258 50 $11,649 13 



Miscellaneous. 

Premiums received from organization of company 
Losses paid from organization of company 
Losses incurred during the year 
Company's stock owned by directors . 

Massachusetts Business. 

Risks written during 1879 

Premiums received ...... 

Losses incurred ....... 

Losses paid 



$172,648 79 


34,370 


03 


3,913 


91 


80,000 


00 


$43,468 00 


1,430 


17 


670 


40 


670 40 



LIFE AND ACCIDENT 

INSURANCE COMPANIES 

OF OTHER STATES - 

Authorized to do Business in Massachusetts, with the Agents 
acting for the same, and the amount of business done 
by each Agent, for the Year .ending October 
31, 1879, as returned to the tax commis- 
sioner, and by him compiled. 



18 



138 



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AGENTS AND SUB-AGENTS. 



140 



AGENTS AND SUH-AOENTS. 



LIST OF AGENTS AND SUB-AGENTS 



AUTHORIZED AT DATE OF PUBLICATION OF THIS REPORT 



Agents marked *. 



Dwight Chester* 
John H. Stevens 
G. D. Richardson 



JETNA, Hartford, Conn. 



Boston. 

Newton. 

Boston. 



P. C. Headley 
T. R. Vestal 



Boston. 
Fall River. 



CONNECTICUT GENERAL, Hartford, Conn. 



Edwin Ray* . ■. Boston. 
Alfred Laws* . . Brockton. 
James M. Cnshnian,* Taunton. 



H.S.Bacon* . 
E. G. Field* . 
A. D. Havnes* 



Mil ford. 

Worcester. 

Lawrence. 



CONNECTICUT MUTUAL, Hartford, Conn. 



Sidney F. Tyler* . 
J. C. Chaffee . ' . 
J. C. Hammond 
William Lincoln 
H. H. Wellington . 
S. A. Stacy & Son . 
H. W. Billings . 
Seth Pooler 
William A. Smith . 
Samuel Whittier 
King & Pratt . 
S. B. Fay . 
F. M. Stedman 
David Austin . 
Jedediah Dwelley . 
Sam'l H. Stone, jun. 



Boston. 

Lee. 

Taunton. 

Warren. 

Adams. 

Gloucester. 

Conway. 

Fall River. 

Worcester. 

Leominster. 

Greenfield. 

Boston. 

Springfield. 

Lynn. 

West Hanover. 

Beverly. 



ElishaRisley*. 
A. P. Sawyer . 
William S.Dan forth, 
John C. Parker 
J. S. Roraback 
Oliver Walker . 
Daniel W. Kilburn . 
D. R. Wallace . 
V. W. Crowson 
Thomas F. Dodge . 
Jesse E. Jacobs 
George B. Stone 
John B. Lewis, jun. 
Joshua P. Bird 
J. F. Hartwell . 



Springfield. 

Newburyport. 

Plymouth. 

Pittsfield. 

Boston. 

Northampton. 

Boston. 

Lowell. 

Westfield. 

Springfield. 

Boston. 

Fall River. 

Reading. 

Newton. 

Boston. 



EQUITABLE, New York, N.Y 



H. T. Blodget* 
A. C. Palmer . 
William P. Pierce 
Isaac B. Boyce 
J. Franklin Ferris 



Boston. 

Boston. 

Boston. 

Lynn. 

Albany. 



John M. Turner* 
C. J Underwood 
E. H. Hayward 
H. C. Sexton* . 
A. M. Sleeper . 



Northampton. 

Boston. 

Ayer. 

Springfield. 

Springfield. 



FIDELITY AND CASUALTY COMPANY, New York, N.Y. 
Baker & Coolidge* Boston. 



AGENTS AND SUB-AGENTS. 



147 



F. Krause* 
Benjamin Zaeder 



GERMANIA, New York, N.Y. 



Boston. 
Worcester. 



Frederick Wiese 
Walter S. Edwards 



Springfield. 
Boston. 



HARTFORD LIFE AND ANNUITY, Hartford, Conn. 



Everett E. Burdon* 
E. W. Brigham 
Daniel G. Tinker . 
Henry A. Roberts . 



Boston. 
Waltham. 
Boston. 
Auburn'le. 



Jas. H. Greenwood . Gardner. 
Thomas M. Martin . Boston. 
Chas. G. Sweetland, Newton. 



HARTFORD STEAM-BOILER, Hartford, Conn. 



W. S. Chamberlain * 
David C. Freeman* 
Chace & Shaw* 
Lockey & Allison . 



Boston. 
Hartford. 
Fall River. 
Fitchburg. 



S. A. Hay ward & Co.* Brockton. 
John L. Smith* . Providence. 
William F. Johnson,* Lynn. 



James M. Burgess* 
Philip Pond 



HOME, Brooklyn, N.Y. 



Boston. 
Springfield. 



N. P. Harrington . Boston. 
Stanley H. Parker . Holyoke. 



HOMOEOPATHIC MUTUAL, New York, N.Y. 
Ebenezer F. Spaulding,* Boston. | Charles G. Stevens,* Clinton. 



MANHATTAN, New York, N.Y. 



J. Mason Everett*. 
Lewis W. Burnham * 
Henry B. Pierce 
Augustus Burt 
Frank A. Davis 



Boston. 

Boston. 

Abington 

Springfield. 

Maynard. 



Joseph W. Holmes,* Springfield. 
Chauneey H. Pierce,* Northampton. 
E. M. Bickford . Sherborn. 

Charles W. Holden . Boston. 
George Pierce . . Greenfield. 



METROPOLITAN, New York, N.Y. 



Marcus Kallman * 
Alvah Hardy * 
Richard Mortimer 
Benj. Barnbrook 
Thomas Kenyon 
Charles Meanwell 
William Scaife 
Walter Ballentyne 
Henry T. Davenpor 
Charles Drouet 
Alfred Rumley 
Samuel Jackson 
William Jackson 
Martin P. McKeon 
E. L. Green . 

E. B. Chapman 
Charles H. Park 
L. E. Johnson . 

F. E. Gage 

M. L. Campbell 
James M. Francis 



Boston. 

N. Adams. 

Boston . 

Boston. 

Boston. 

Fall River. 

Fall River. 

Lawrence. 

Springfield, 

Lowell. 

Lowell. 

Lawrence. 

Lawrence. 

Lawrence. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 



G. H. Gibby 
H. M. Sanborn 
J. Tockerman 
Joseph Sears 
J. D. McLean 
F. D. Whiting 
S. H. Walker 
John Broughton 
T. G. Rakestraw . 
C. B. Lewis 
L. A. Chapin 
Henry Snowball 
Paul Makepeace * . 
W.D. Arnolds- 
Jonathan Wilde 
Thomas Mutch 
Benj. Wakefield 
Edward Sutton 
Samuel Sow r erbutts . 
Win. Thos.Haworth,. 
George Mason . 



Boston. 

Boston . 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Westfield. 

Springfield. 

Lowell. 

Boston. 

Rockland. 

Boston. 

Boston. 

Fall River. 

Fall River. 

Lawrence. 

Springfield. 

Springfield. 



148 



AGENTS AND SUB-AGENTS. 



METROPOLITAN, New York- Concluded. 



Robert Lever . 
John Sykes 
Michael Higgins 

Alfred Barlow . 
Watson Hargreaves, 
John Wright . 
William Thornton . 
Winfield Church . 
William Maddox 
Joseph Broadbent . 
James E. Walsh 
John W. Col ton 
Ezekiel Craven 
Thomas Bailey 



Lowell. 
Lowell. 
Fall River. 
Fall River. 
Fall River. 
Fall River. 
Fall River. 
Fall River. 
Fall River. 
Fall River. 
Springfield. 
Springfield. 
Springfield. 
Fall River. 



James Pardon 
T. P. Huxley 
Henry Dickenson 
Jethro Clayton . 
Daniel H. Hutchinson, 
Otis Victary 
Frank McKinnon 
John B. Flowers 
E. J. Newhall . 
O. S. Smith . 
William Quilty . 
W. A. Lewis 
Charles Healy 



Fall River. 

Worcester. 

Worcester. 

Worcester. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Springfield. 

Springfield. 

Worcester. 



METROPOLITAN PLATE-GLASS, New York, N.Y. 
Jacob Bean* . . Boston. J. A. Remington* . Fall River. 

F. A. Judd * . . Springfield. L. B. Usher * . . Lynn. 



C. G. Attwood* 
William R. Gordon . 
William P. Hood . 
R. B. Robinson 
F. E. Manley . 
Charles Hovey . 
J. B. Anthony . 
Benjamin D. Chase . 
Charles W. Tarbell . 
Henry S. Harris 
Silas Sanborn, jun. . 
Frank M. Hay den . 
Edmund R. Fowler . 
Thomas E. Lambert, 
Edward F. Adams . 
Jacob Silloway, jun. 
John E. Huntress . 
Henry M. McCloud . 
Christopher Clark . 



MUTUAL, 

Boston. 

Beverly. 

Somerset. 

Westfield. 

Lowell. 

Lowell. 

Boston. 

Boston. 

Boston. 

Taunton. 

Boston. 

Boston. 

Boston. 

Boston. 

Haverhill. 

Canton. 

Boston. 

Amherst. 

Northampton. 



New York, N.Y. 
J. B. Bonnell 
Franklin Whipple 
N. B. Perkins . 
J. Frank Dalton . 
S. D. Howland . 
James M. Cotton 
Samuel D. Greene 
John W.Allen . 
M. N Wheel wright 
Reuben Nickerson 
L. Grinnell & Son 
J. C. McKelvey . 
Z. C. Rennie 
Henry White 
J. Morissey & Son 
C. G. Stevens & Son 
George A. Pratt . 
James R. Wells . 



MUTUAL BENEFIT, Newark, N.J. 



Hedges & Hodges* 
Frank W. Wheeler 
Silsbee & Pickford 
Benj. W. Russell , 
George W. Allen 



James T. Phelps* 
Charles D. Tucker* 



Boston. 

Worcester, 

Lynn. 

Salem. 

Amherst. 



W. H. S. Jordan 
H. M. Daggett, jun. 
John T. Hall 
James S. Tileston 
Joshua Merrill . 



NATIONAL, Montpelier, Vt. 



Boston. 
Worcester. 



S. A. Childs * . 
Edwin S. Merrill* 



Worcester. 

Worcester. 

Salem. 

Salem. 

Fall River. 

Fall River. 

Chelsea. 

Boston. 

Newton. 

Orleans. 

New Bedford. 

Springfield. 

Springfield. 

Springfield. 

Plymouth. 

Clinton. 

Somerville. 

Springfield. 



Boston. 

Attleboro'. 

Plymouth. 

Hingham. 

Lowell. 



Fitchburg. 
Winchendon. 



NEW YORK, New York, N.Y. 



C R. Griffing & Co.* Boston. 
Amos D. Smith, 3d,* Boston. 
Jarvis Rockwell * . North Adams. 



George W. Warren . Boston. 
B. A. Ball . . Boston. 

George L. Stocking . Lowell. 



AGENTS AND SUB-AGENTS. 



149 



NEW YORK, New York — Concluded. 



John W. Guiteau 

E. A. Parklmrst 

F. S. Coolidge . 
W. F. Morrill . 
J. H. Wilcox . 
H. H. Wellington 
O. W. Gardiner 
J. H. McFarland 
Sheldon W. Cook 
J. A. Kilgore . 
James B. Niver* 
James Melanefy * 
Benjamin S. Calef 
George Parsons 



Boston. 

Lowell. 

N. Leominster. 

Springfield. 

Adams. 

Adams. 

Boston. 

Boston. 

Billerica. 

Haverhill. 

Boston.. 

Worcester. 

Boston. 

Boston. 



A. A. Woodbridge . 
R. C. M. Bowles 
George H. Chase 
D. L. Mitchell . 
J. A. Remington 
Ira F. Lowell . 
A. V. Newton . 
Josiah C. Proctor . 
Alexander Hyde 
Edward S. Osgood . 
Farrington Mclntyre, 
C. H. Perkins . 
C. C. Williamson 
A. B. Morse 



Lowell. 

Boston. 

Lowell. 

Taunton. 

Fall River. 

Rockland. 

Worcester. 

North Adams. 

Lee. 

Boston. 

Boston. 

Maiden. 

Worcester. 

Arlington. 



NORTHWESTERN MUTUAL, Milwaukee, Wis. 



E. J. Smith* . 

F. L. Gilman*. 
Thomas E. Lambert, 
William P. Gannett, 



Boston. 
New Bedford. 
Boston. 
Boston. 



L. H. Whitney 
Howard Perkins 
John Pryor 
A. K. Slade, jun. 



N. Cambridge. 
Mansfield. 
Boston. 
Fall River. 



PENN MUTUAL, Philadelphia, Penn. 
Barnard Brothers * . Boston. I Hiram C. Sexton* . North Adams. 



PHCENIX MUTUAL, Hartford, Conn. 



John K. Norwood*. Boston. 
John M. Stevenson * Pittsfield. 



Chauncey H. Pierce,* Northampton. 
S.Y.Wallace* . Lawrence. 



PROVIDENT LIFE AND TRUST, Philadelphia, Penn. 



Gilbert C. Hoag* . Boston. 
S. Clarence Tozzer . Lvnn. 



David N. Holway . Boston. 



PROVIDENT SAVINGS, New York, N.Y. 



Fred W. Masters * . Boston. 
Siegfred Wolffsohn . Boston. 



James F. Anderson, Boston. 



TRAVELERS', Hartford, Conn. 



Hatch & Woodman,* Boston. 

Harry B. Adams . Boston. 

Abraham & Co. . Boston. 

Benjamin F. Brown, Boston. 

T. Edward Bond . Boston. 

Charles I. Brown . Boston. 

John F. Crowell . Worcester. 

Edwin L. Cogswell . Lee. 

William H. Curtis . Haverhill. 

Wm. O. Chapman . Salem. 

O. M. Cumraings . Boston. 

H. H. Chapman . Concord. 

John H. Daniels . Fitchburg. 

Albert A. Davis . Lynn. 

Charles II, Davis . Lawrence. 



Frank P. Doolittle 
Forest E. Day . 
Wm. A. Edwards 
H. L. Follansbee 
E. C. Field 
Harrison Frank 

E. A. R. Fairchild 

F. L. Gilman . 
John W. Gay, jun. 
S. D. Howland 
John C. Hammond 
E.V. B. Holcomb 
Merrill E. Hervey 
Edward F. Adams 
S. Anderson 



Springfield. 

Boston. 

Boston. 

Gloucester. 

Ashburnham. 

Boston. 

Belchertown. 

New Bedford. 

Winchendon. 

Fall River. 

Taunton. 

Chicopee. 

Boston. 

Haverhill. 

Ayer Junction. 



150 



AGENTS AND SUB-AGENTS. 



\\\ lv. Armstrong . 
Arthur S. Alford . 
Henry A. Brown 
Andrew S. Briggs . 
William Barnes 
Henry S. Bacon 
Horace W. Bush 
Edward E. Belding . 
George S. Brooks 
Henry A. Bo wen 
John Edwards & Co. 
E. F. Brown . 
E. A. Bond 
Henry C. Church 
T. C. Collins . 
Chapin & Williams . 
Royal E. Far well 

E. J. Fuller . 
George O. Fogg 
H. G. Gilmore . 

F. S. Harrington 
Hunt & Hamilton . 
Samuel E. Howe 

S. H. Hellyar . 
Jacob C. Hiltz . 
Marcus M. Howard . 
Hatch & Co. . 
John T. Hall . 
H. S. Harris . 
Jos. W. Hollywood, 
Waldo Johnson 
Alonzo P. Jones 
F. A. Judd 
King & Pratt . 
H. S. Keeler . 
Wm. Lincoln & Co. 
Edwin Mercer . 
Wi,lliam Medcalf 
Elisha M. Phillips . 
Samuel Porter . 
H. M. Puffer . 
Piper and Sawyer . 
Wm. Parkinson, jun. 
Asa P. Rand 
George M. Roberts . 
Oscar F. Rawson 
Charles M. Ruggles . 
James M. Ramsey . 



TRAVELERS', Hartford — Concluded. 
C. G.Stevens & Son. 



Turner's Falls. 

North Adams. 

Salem. 

Taunton. 

Marlborough. 

Milford. 

W. Brookfield. 

Chicopee. 

Orange. 

Shelb'rne Falls. 

Lawrence. 

Athol. 

North Adams. 

Lowell. 

Middleboro'. 

Greenfield. 

Natick. 

Winchendon. 

Boston. 

Springfield. 

Boston. 

Athol. 

Pittsfield. 

Palmer. 

Boston. 

Greenfield. 

New Bedford. 

Plymouth. 

Taunton. 

Brockton. 

Webster. 

Boston. 

Springfield. 

Greenfield. 

Boston. 

Warren. 

Boston. 

Ware. 

Southbridge. 

Beverly. 

Shelb'rne Falls. 

Newburyport. 

Boston. 

Westfield. 

Boston. 

Worcester. 

Worcester. 

Cambridge. 



J. M. Stevenson 
John M. Turner 
G. E. Underwood . 
Porter Underwood . 
Daniel F. Viles . 
Rufus G. Walden . 
W. W. Ward . 
Samuel Whittier 
Dunn & Dunn . 
A. D. Swan 
William Lewis . 
Daniel Hooke . 
Albert Hyde . 
Harriet L. Hartwell, 
W. I. Hawks . 
Charles Hartwell 
Charles C. Judd 
W. F. Johnson . 
A. S. Jordan . 
N. S. Kimball . 
Charles E. Kirby . 
Locke and Gale 
Wm. H. Mansfield . 
George Otis 
Henry B. Pierce 
James O. Parker 
Moses H. Pease .__ 
L. H. Palmer . 
R. B. Robinson 
J. W. Richardson . 
Walter S. Rodinon . 
Arth. C. Richardson, 
O.P.Richardson, jun. 
J. H. Stannard 
Silsbee & Pickford . 
H. R. Stoughton 
W. W. Tandy . 
Nathan S. Tandy . 
H. Van Campen 
Franklin Whipple . 
Oliver Walker . 
Frank H. Wright . 
Joseph L. White 
William W.Waugh, 
Henry M. McCloud . 
Charles B. Dennis . 



Clinton. 

Pittsfield. 

Northampton. 

Ayer. 

Holyoke. 

AValtham. 

North Adams. 

Holyoke. 

Leominster. 

Gardner. 

Lawrence. 

Boston. 

Haverhill. 

Pittsfield. 

Waltham. 

Boston. 

Worcester. 

Holyoke. 

Lynn. 

Weymouth. 

Haverhill. 

Fitchburg. 

Boston. 

Gt. Barrington. 

Yarmouthport. 

Abington. 

Methuen. 

Lee. 

Boston. 

Westfield. 

Boston. 

Northampton. 

Newburyport. 

Attleboro'. 

Lawrence. 

Lynn. 

Palmer. 

Gardner. 

HoosacTunnel. 

New Bedford. 

Worcester. 

Northampton. 

Gt. Barrington. 

Boston. 

Boston. 

Amherst. 

Fitchburg. 



John E. DeWitt * 
Judson G. Clark 
Leverett Clarke 
Robert H. Patten 
William P. Merrill 



UNION MUTUAL, Augusta, Me. 



Boston. 
Boston. 
Boston. 
Boston. 
West Newbury 



Charles Fay 
AbiatherDoane,jun. 
Orrin L. Cowles 
Lucius A. Cutler 



Springfield. 
Springfield. 
Westfield. 
Brimfield. 



George N. Carpenter, Boston. 



AGENTS AND SUB-AGENTS. 



151 



UNION MUTUAL, Augusta— Concluded. 



James C. Benn . 
George H. Merriam, 
Andrew J. Fosdick . 
James L. Johnson . 
D wight Clark . 



Boston. 

Boston. 

E. Stoughton. 

Springfield. 

Springfield. 



Arthur F. Barrett 
Austin L. Leonard 
J. M. Shepard, jun. 

& Co. . 



Springfield. 
Ware. 

Fall River. 



UNITED STATES, New York, N.Y. 
William H. Guild* . Boston. | George B. Perry * 



North Adams. 



UNITED STATES PLATE-GLASS, Philadelphia, Penn. 



R. S. Barrows * 


Boston. 


Wm. S. Greene* 


Fall River. 


C. C. Judd* . 


Holyoke. 








VERMONT, Burlington, Vt. 




C. W. Carter * . 


Boston. 


Henry L. Chad wick, 


Chelsea. 


Geo. W. Couillard . 


Boston. 


A. W. Haynes . 


Clinton. 


J. F. McCarthy 


Boston. 


Thos. H. Seymour . 


Worcester. 


Geo. A. Danforth . 


Boston. 


George W. Wilson . 


Worcester. 


Ellen S. Hatch . 


Boston. 


William T. Allen . 


Worcester. 


Rob't II. Magwood . 


Boston. 


L. E. Wise 


Lowell. 


William Bayard 


Boston. 


John Slinn 


Fall River. 


Charles W. Jenkins, 


Boston. 


A. P. Linke 


Lynn. 


H. J. B. Hudson . 


Lynn. 


Edward C. Welsh . 


Boston. 




WASHINGTON, 


New York, N.Y. 




C. W. Holden * 


Boston. 


R. H. Salter* . 


Boston. 


M. N. Wheelwright . 


Newton. 


Fred W. Masters . 


Boston. 


C. H. Boardman 


Lynn. 


John S. Winn . 


Boston. 


Jacob Fox 


Boston. 


Thomas E. Lambert, 


Boston. 


J. Mason Everett . 


Boston. 


John S. Roraback . 


Boston. 


H. H. Lovett . 


Newton. 


Edward L. Quigley . 


Charlestown 



INDEX TO COMPANIES. 



[For Index to General Topics and Tables, see Table of Contents prefacing the Commis 

sioner's Report.] 



Page 
iEtna Life, Hartford, Conn 28 

Berkshire Life, Pittsfield, Mass 2 

Connecticut General Life, Hartford, Conn. ....... 35 

Connecticut Mutual Life, Hartford, Conn viii, ix, 39 

Continental Life, Hartford, Conn vii 

Equitable Life, New York, N.Y 43 

Germania Life, New York, N.Y 46 

Hartford Life and Annuity, Hartford, Conn vii, 49 

Hartford Steam-Boiler 124 

Home Life, Brooklyn, N.Y 53 

Homoeopathic Mutual Life, New York, N.Y". . . ■ . . . . 57 

John Hancock Mutual Life, Boston, Mass xiv, 6 

Knickerbocker Casualty 126 

Manhattan Life, New York, N.Y viii, ix, 60 

Massachusetts Hospital Life, Boston, Mass. 10 

Massachusetts Mutual Life, Springfield, Mass 11 

Metropolitan Life, New York, N.Y 66 

Metropolitan Plate-Glass 128 

Mutual Life, New York, N.Y viii, ix, 69 

Mutual Benefit Life, Newark, N.J viii, ix, 72 

Mutual Boiler 129 



National Life, Montpelier, Vt viii, ix, 76 

National Life, Washington, D.C. ......"... 80 

New England Mutual Life, Boston, Mass 17 

New York Life, New York, N.Y . 84 

Northwestern Mutual Life, Milwaukee, Wis 88 

20 



154 INDEX TO COMPANIES. 

rage 

Penn Mutual Life, Philadelphia, Penn. . . . . 1)1 

Phoenix Mutual Life, Hartford, Conn 95 

Provident Life and Trust, Philadelphia, Penn 99 

Provident Savings, New York, N.Y 103 

State Mutual Life, Worcester, Mass 22 

Travelers', Hartford, Conn. (Life Department) 105 

Travelers', Hartford, Conn. (Accident Department) 130 

Union Mutual Life, Augusta, Me viii, ix, 100 

United States Life, New York, N.Y viii, ix, 113 

United States Plate-Glass 133 



Vermont Life, Burlington, Vt 117 

Washington Life, New York, N.Y 120